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Sandvik to carve out steel business unit and explore IPO opportunities
May 10, 2019

Sweden’s Sandvik AB announced plans Monday to spin off its stainless and specialty alloys division and said it will explore a possible IPO for the standalone business. Sandvik’s CEO, Björn Rosengren now estimates a valuation of around SEK 15bn for the business unit, corresponding to an EV / sales multiple of 1x.

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