NORDENIA
Oaktree postpones sale of film manufacturer Nordenia for now / Potential buyers unwilling to pay high price
Private equity company Oaktree Capital Management (Los Angeles, California / USA; www.oaktreecapital.com) obviously is not having any luck selling film and packaging manufacturer Nordenia International (Greven / Germany; www.nordenia.com) – for most recent coverage see Plasteurope.com of 01.02.2010.
The "Reuters" news agency reports that negotiations with the last remaining bidder, TPC Capital, failed because the company refused to pay the EUR 600m price tag Oaktree has fixed for Nordenia. As a result, the private equity company for now has shelved its plans of a sale, Reuters says. There have been numerous reports of a possible issuing of high-yield bonds by Nordenia, the proceeds of which would go to Oaktree.
The "Reuters" news agency reports that negotiations with the last remaining bidder, TPC Capital, failed because the company refused to pay the EUR 600m price tag Oaktree has fixed for Nordenia. As a result, the private equity company for now has shelved its plans of a sale, Reuters says. There have been numerous reports of a possible issuing of high-yield bonds by Nordenia, the proceeds of which would go to Oaktree.
14.04.2010 Plasteurope.com [215985]
Published on 14.04.2010
German version of this article...