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Italy's Edizione teams up with Goldman Sachs in bid for Guala Closures: sources
October 3, 2017 / 1:33 PM / 14 days ago

Italy's Edizione teams up with Goldman Sachs in bid for Guala Closures: sources

FILE PHOTO: A trader works at the Goldman Sachs stall on the floor of the New York Stock Exchange, New York, U.S. on April 16, 2012. REUTERS/Brendan McDermid/File Photo

MILAN (Reuters) - The Benetton family’s investment group Edizione Holding has teamed up with Goldman Sachs’s (GS.N) private equity arm to bid for Italian packaging company Guala Closures, two sources said on Tuesday.

The consortium is one of six groups interested in Guala which could be worth more than 1 billion euros ($1.18 billion), the sources said.

In September sources had said Edizione was one of a series of companies interested in bidding for the packaging company.

“We are in a widened due diligence phase at the moment which will be narrowed down to a smaller number of parties in mid-October, probably three,” one of the sources said.

Guala’s main shareholder, Apriori Capital Partners, mandated Barclays and Credit Suisse in May to help with a sale or a possible initial public offering.

Goldman Sachs declined to comment.

Reporting by Paola Arosio and Massimo Gaia, writing by Stephen Jewkes; editing by Agnieszka Flak

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