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Carlyle Said to Near $1 Billion Takeover of Packaging Firm HCP

  • PE firm expects to complete deal in the coming months
  • HCP owner BPEA had sought about $1.5 billion from sale

Carlyle Group Inc. is set to buy Chinese packaging firm HCP for about $1 billion, people familiar with the matter said, less than two months after a sale of the business was threatened by valuation concerns.

The US-based buyout firm hammered out final details of an agreement with HCP’s owner Baring Private Equity Asia this week, the people said, asking not to be identified discussing confidential information.