buyout group oep relaunches sale of constantia flexibles - sources - plastic film packaging
LONDON/FRANKFURT, November 7 (Reuters)-
Equity partner buyout group 1 (OEP)
Three people familiar with the matter said that a year after trying to list on the stock exchange, sales of Austrian packaging company Constance a Flexibles failed.
With a 50% stake in JPMorgan Chase, OEP has received several interest statements from rival acquisitions groups such as CVC and EQT, valuing Constantia at around 2 billion euros. $2. 5 billion), they added.
JPMorgan Chase has been retained as a consultant to manage the sales of aluminum foil, paper and plastic manufacturers
Film packaging and labeling in the food, pharmaceutical and beverage industries, they added.
Private equity firms may set the valuation of Constantia at around 7.
They say the expected return of EUR 2014 before interest, tax, depreciation and amortization is 5 to 8 times that of EUR 0. 265 billion.
In 2013, sales of Constantia were EUR 0. 24 billion and EBITDA was EUR 1. 6 billion euros.
Core earnings rose 6% in the first six months of 2014.
The average expected earnings of listed competitors such as Amcor, Bemis, Sealed Air, Berry and Mondi are 8 times.
JPMorgan Chase and Constantine declined to comment.
On April, Thomas Unger, chief executive of constantianbo, said the group might try to go public again and prepare to start listing as early as the second half of the year.
One of the sources said the IPO (IPO)
Continuing is an option that can be made if the bidder does not meet the seller's price expectations.
In 2013, OEP canceled the planned listing after deciding that the valuation of Constantia was too low.
OEP is the last private equity business left by JPMorgan Chase.
After defining OEP as the core of its business, the bank sold € 50% to Lexington Partners and Carlyle's Alpha investment division in August.