Banks Prep €1.5 Billion Debt as Wendel Kicks Off Constantia Sale
- Investment firm Wendel working with Evercore on sale process
- Bidders and lenders wanting to engage in buyout activity
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Banks are lining up around €1.5 billion ($1.6 billion) of debt financing to back a potential buyout of Austrian packaging firm Constantia Flexibles as owner Wendel SE kicks off a sale process.
French investment group Wendel is working with the US advisory firm Evercore Inc. on the process, after considering putting the company up for sale late last year, said people familiar with the matter, who asked not to be identified because the talks are private. Information memorandums have been sent out in the past couple of weeks.