Key Moments
- KKR & Co. (NYSE:KKR) has become the preferred bidder for Portuguese packaging producer Logoplaste, according to Bloomberg.
- The firm is in exclusive negotiations after Apax Partners LLP exited the sale process, with a potential deal expected in the coming weeks.
- Logoplaste could be valued at more than €1.7 billion, with Ontario Teachers’ Pension Plan Board currently holding a 60% stake.
KKR Moves Into Lead Position
KKR & Co. (NYSE:KKR) has reportedly taken the lead in the race to acquire Logoplaste, a Portuguese packaging manufacturer, according to Bloomberg, which cited people familiar with the matter.
The U.S. private equity group is now engaged in exclusive discussions with the owners of Logoplaste after Apax Partners LLP withdrew from the process, the same people said. The parties could reach an agreement in the coming weeks, although timing remains uncertain.
Deal Uncertainty and Ongoing Negotiations
Talks are still in progress, and the sources indicated there is no guarantee that negotiations will culminate in a completed transaction. Terms and structure of any potential deal were not disclosed.
Potential Landmark Transaction in Portugal
A successful takeover of Logoplaste would likely rank among the largest deals in Portugal this year. It would also take place against a backdrop of heightened private equity interest in Portuguese assets.
Ontario Teachers’ Pension Plan Board, which owns 60% of Logoplaste, has been working with advisers to pursue a sale of the company.
Valuation and Bidding History
Bloomberg News previously reported that both KKR and Apax had submitted binding offers for Logoplaste. According to that reporting, the company could be valued at more than €1.7 billion.
| Party | Role / Status | Details |
|---|---|---|
| KKR & Co. (NYSE:KKR) | Preferred bidder | In exclusive talks with Logoplaste’s owners |
| Apax Partners LLP | Former bidder | Dropped out of the sale process |
| Ontario Teachers’ Pension Plan Board | Major shareholder | Owns 60% of Logoplaste and is working with advisers on a sale |
| Logoplaste | Target company | Portuguese packaging maker, could be valued at more than €1.7 billion |
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