Domtar, other parties reportedly bid for Spanish diaper, incontinence pad producer Laboratorios Indas; bidding valued at €300M-€400M, say insiders
October 17, 2013
– Canadian fibre-based products maker Domtar Corp (TSE:UFS) and other parties have bid for Spanish diaper producer Laboratorios Indas SAU, being sold by Portobello Capital Gestion SGECR SA and Banco Santander SA’s (MCE:SAN) Vista Capital de Expansion SA SGECR, Reuters reported, quoting banking and buyout sources.
Two of the insiders said that the target, seen to potentially be divested for EUR300m (USD406.5m) to EUR400m, had attracted interest also from US private equity firm The Blackstone Group LP (NYSE:BX), although it was not expected to continue to vie for the business.
A banking source told the agency that the investment firms would be seeking a sale of some seven to eight times Indas’s EBITDA of around EUR50m.
Five people in the know confirmed Portobello and Vista were shedding the business, Reuters said.
Indas provides hygiene products, including incontinence pads.