Deutsche Bank Said to Provide Staple Financing for Pact Sale
Deutsche Bank AG is advising and providing staple financing for a potential sale of about 50 percent of Pact Group Pty, according to three people familiar with the matter.
Under the agreement, Deustche Bank would fund at least 50 percent of the value of bids for the stake in the Australian packaging maker, the people said, asking not to be identified because the details are private.
Amanda Lee, an external spokeswoman for Pact Group at FTI Consulting Inc. (FCN), declined to immediately comment when asked about the sale and financing.
Reuters reported the sale on June 15, citing people it didn’t identify.
Staple financing is a pre-arranged debt package offered to potential bidders in an acquisition.