Breaking News


Constantia Flexibles Said to Pick Banks for Share Sale This Year

Constantia Flexibles Group GmbH, the Austrian packaging maker owned by One Equity Partners LLC, picked JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. and Deutsche Bank AG (DBK) to manage an initial public offering this year, said three people with knowledge of the transaction.

The transaction may value Vienna-based Constantia Flexibles at as much as 2 billion euros ($2.65 billion) and take place as soon as October, said one of the people, who asked not to be identified because the process isn’t public. The size and the timing of the deal aren’t decided yet, the people said.

Constantia Flexibles spokesman Wolfgang Schwaiger declined to comment on bank mandates. Officials for One Equity, owned by JPMorgan, as well as representatives at Goldman Sachs and Deutsche Bank also declined to comment. The Wall Street Journal reported the banks handling the IPO yesterday.

Chief Executive Officer Thomas Unger said in April that One Equity may sell shares to the public after Constantia Flexibles reaches 2 billion euros in revenue, a “critical size” he expects to achieve by 2015, or sooner, if it continues to acquire competitors.

The company, which provides packaging for food, beverages and medicine, had sales of 1.31 billion euros last year. It has since acquired companies in Mexico, the U.S. and India that have combined revenue of about 350 million euros, according to a company presentation.

One Equity Partners bought a majority stake in Constantia Packaging, Constantia Flexibles’ former owner, in 2009 and later split up the company. AMAG Austria Metall AG (AMAG), Constantia Packaging’s aluminum business, sold shares in April 2011, the Vienna stock exchange’s first IPO since Strabag SE’s offering in 2007.

To contact the reporter on this story: Boris Groendahl in Vienna at

To contact the editor responsible for this story: Frank Connelly at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.