Rexam, buyout firms to bid for Calmar-sources

Date: 30 December 2005
Source: Reuters.com

Date: 30 December 2005

Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.

PA: Quote, Profile, Research) is considering selling, sources familiar with the situation said.

First-round bids for the business, which if sold is set to fetch between $700 and $900 million, are due around January 12, the sources said on Friday, adding the information memorandum has been received by potential bidders.

The world's biggest materials supplier confirmed last month it may sell some activities but insisted it is under no pressure to do so as it already had the financing of the 3.9 billion pound acquisition of British plasterboard maker BPB (BPB.L: Quote, Profile, Research).

A spokesman at Saint-Gobain declined to comment on Calmar, adding: "We have already said that all our options are open."

Other bidders for the business, which has a large U.S. presence, could include North American packagers such as Alcoa (AA.N: Quote, Profile, Research), Ball Corporation (BLL.N: Quote, Profile, Research), Crown Packaging and Owens-Illinois (OI.N: Quote, Profile, Research), the sources said.

U.S. buyout firms such as the Blackstone Group, which owns German packager Gerresheimer Glas, the Carlyle Group, Apollo and Madison Dearborn, may also bid for the business, the sources said.

Sources had told Reuters last month that Calmar was among the businesses Saint-Gobain was considering selling. Along with any sale of perfume bottle maker Desjonqueres, Calmar was expected to fetch more than 1 billion euros.
600450 Rexam, buyout firms to bid for Calmar-sources glassonweb.com

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