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Apollo in talks to buy packaging group RPC
(MENAFN) Private equity company Apollo Global Management is having advanced talks to buy Europe"s biggest plastics packaging maker RPC Group for about USD3.8 billion.
RPC has extended the deadline to Jan, 23 for the company to make a firm offer or walk away.
Private equity has long been attracted to the sector"s reliable cash flow and increasing demand from online shopping, with a spate of takeovers by bigger packaging players further spurring their interest.
The company said in September that it was in talks on a possible sale to Apollo and U.S. private equity firm Bain Capital, with the deadlines to make a firm offer extended repeatedly since then.
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RPC has extended the deadline to Jan, 23 for the company to make a firm offer or walk away.
Private equity has long been attracted to the sector"s reliable cash flow and increasing demand from online shopping, with a spate of takeovers by bigger packaging players further spurring their interest.
The company said in September that it was in talks on a possible sale to Apollo and U.S. private equity firm Bain Capital, with the deadlines to make a firm offer extended repeatedly since then.
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