Catalyst Investment Managers may close its sale of Australian flexible packaging manufacturer Aperio by February; competition authorities currently reviewing Amcor's proposal
January 6, 2012
– Private equity firm Catalyst Investment Managers may complete its sale of flexible packaging manufacturer Aperio Group Australia Pty Ltd. by February, according to knowledgeable sources, The Wall Street Journal reported Jan. 6.
The Australian Competition and Consumer Commission is considering Amcor’s 20 flexible packaging manufacturing operations spanning seven countries, including Australia, as it reviews its offer. Its findings will be announced on Feb. 9.
Pact Group Pty Ltd. has also placed a bid, which falls in the lower end of the AU$250 million-$300 million (US$256 million-$307 million) price range set by Catalyst adviser Greenhill Caliburn, according to the article.
Aperio has 12 plants in Australia, New Zealand and Thailand, and serves a wide range of markets, including agriculture, beverage, biscuits, confectionery, and personal hygiene.
The primary source of this article is The Wall Street Journal, New York, on Jan. 6, 2012.