wendel to buy $2.8 billion packaging firm constantia flexibles - plastic film packaging
French investment group Wendell (MWDP. PA)
On Tuesday, it said it had agreed to acquire Constantia Flexibles in a deal that set the value of Austrian packaging company at £ 2.
3 billion euros ($2. 8 billion).
Wendell did not disclose how much it bought in the company, but said in a statement that it aims to complete the deal in the first half of 2015.
Wendell said its offer valued Constantia Flexibles at about 9 times the company's expected pre-interest, tax, depreciation and amortization earnings of 2014 (EBITDA).
"Once the transaction is completed, Wendell intends to support the contantia flexibility for a long time as a major shareholder and an important minority shareholder," the company said in a statement . ".
Flexible Manufacturing of foil, paper and plastic based on Constantia
Film packaging and labeling in the food, pharmaceutical and beverage industries.
The group has more than 8,000 employees and 1 person on sale.
6 billion euros in 2013.
Reuters reported last month that the acquisition of First Group Equity Partners (OEP)
A year after trying to fail to list on the stock exchange, the company restarted sales.
CVC [and other competitors buyout groupCVC. UL]
People familiar with the matter said Cinven, Permira and EQT have expressed their interest in sales.
Wendell said the acquisition was 2013-
2017 investment of 2 billion euros "top-
Non-listed companies in Africa, North America and Europe ". ($1 = 0. 8212 euros)