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Investcorp Said to Hire JPMorgan for Esmalglass Sale

May 20 (Bloomberg) -- Investcorp Bank BSC, the Bahrain-based investment firm, hired JPMorgan Chase & Co. to sell Spanish ceramics-products maker Esmalglass SA, according to people with knowledge of the matter.

The transaction may value the Villarreal, Spain-based company at about 800 million euros ($1.1 billion), the people said, asking not to be identified because the talks are private. Esmalglass wants to reach an agreement before year-end, they said.

Investcorp’s preferred option is a sale to a private-equity firm or another manufacturer, the people said. An initial public offering of Esmalglass is still a possibility, they said.

Investcorp agreed to buy a majority stake in Esmalglass from 3i Group Plc in August 2012 in a deal valued at about 200 million euros, the people said. Debt provider Intermediate Capital Group Plc also took a minority equity stake.

Esmalglass, which was founded in 1978, employs about 1,000 people in eight countries, according to the company’s website.

Spokeswomen for Investcorp, ICG and JPMorgan declined to comment.

To contact the reporters on this story: Manuel Baigorri in London at mbaigorri@bloomberg.net; Kiel Porter in London at kporter17@bloomberg.net

To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net Steve Bailey, Jon Menon

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