Blackstone, CVC, KKR Said to Mull SIG Combibloc BidsKiel Porter
Blackstone Group LP and CVC Capital Partners Ltd. are considering bids of about $5 billion for Swiss drinks carton manufacturer SIG Combibloc Group AG, according to people with knowledge of the matter.
The two buyout firms and others, including Clayton Dubilier & Rice LLC and KKR & Co. LP, have held talks with advisers about potential offers for the Neuhausen, Switzerland-based company, said five people, who asked not to be identified because the talks are private.
SIG, which is owned by New Zealand-based Rank Group Ltd., appointed Goldman Sachs Group Inc. to examine options for the company earlier this year. First round offers are due in September and the private-equity firms are expected to form groups with each other, or third parties, to bid for the company, the people said.
SIG, which was bought by Rank Group in 2007 for 2.83 billion swiss francs ($3.2 billion), had 1.68 billion euros ($2.3 billion) of revenue in 2013 according to the company’s website. The company, which was founded in the 1850s as a railway carmaker, employs 5,100 employees in about 40 countries.
Spokesmen for Blackstone, CVC, CD&R and KKR declined to comment. Officials at SIG didn’t respond to telephone and e-mailed requests seeking comment.