Carlyle Said to Pick Banks for $4.7 Billion Acrotec’s Zurich IPO

Carlyle Group Inc.has selected banks for an initial public offering of Acrotec Group, which could be valued at as much as 4 billion Swiss francs ($4.7 billion), according to people familiar with the matter.

Bank of America Corp., Morgan Stanley and UBS Group AG are working on the potential Zurich listing of the luxury-watch parts maker, the people said, asking not to be identified discussing confidential information. A first-time share sale of the Develier, Switzerland-based business is likely to take place in the first half of 2025, the people said.

Deliberations are ongoing and details of the ...