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update 1-oaktree selling packaging firm nordenia -sources

2019/12/04
* Oak seeks company bids
Nordenia, February-
Source for Triton Sun Capital * TPG is said to be one of the bidders * flexible packaging companies may receive € 600 (
Increase the background of competitors Nordenia)
LONDON/FRANKFURT Quentin Weber and Alexander huberner, January 28Reuters)-
Oak Capital Management is seeking to sell Nordenia International AG, a German flexible packaging manufacturer, for about 0. 6 billion euros ($844 million)
People familiar with the matter said.
Nordenia\'s flexible packaging, technical film and other product range include the packaging of Tyson Foods (TSN. N)
Meal Packs and Nestle NESN.
VX cat food and components for P & G (PG. N)diapers.
Oak Hotel Los Angeles-
The investment company has hired the investment bank of Goldman Sachs (GS. N)
Manage sales and seek binding bids in the medium term
People say February
Bidders include the United StatesS.
Acquisition Company TPG Capital [TPG. UL]
People familiar with the matter said it was a strategic competitor to the Nordic private equity firm Tronto.
The fourth acquirer is Sun Capital Partners, a private equity firm that regularly invests in financially troubled companies, but also has several companies in the industry, including the United States. S.
They added that Exopack, a flexible packaging company, and Veriplast, a European packaging manufacturer.
The Nordenia sale attracted three acquisition companies, while private equity firms were reacquiring debt and recovering interest in European deals, sources said.
KKR on Wednesday [KKR. UL]
Agree to Buy 0. 955 billion of pet at home with UK pet food and accessories sellers. [ID:nLDE60Q0BM]Greven-
Nordenia was founded in 1966.
According to its website, the company employs more than 3,000 employees and has a turnover of 0. 736 billion euros in the 2008 fiscal year.
Oak acquired a 90% stake in the company in 2006 for undisclosed amounts.
Competitors to Nordenia\'s open trading include Bemis Co BMS.
N, after buying Rio Tinto\'s Food America business for $1, became the biggest North American player in the food packaging industry so far.
2 billion last year.
Oak, Nordenia, Goldman Sachs, TPG and Sun Capital declined to comment.
A request for comment was not answered by a representative of Tronto.
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