It is reported that gobal PE fund Advent International and Thailand's SCG packaging are competing to acquire controlling stake in Bangalore based packaging company Manjushree Technopack.
PE firm Kedara holds 24% stake in the company, while Vimal Kedia, the promoter holds the balance.
The deal is likely to value the company at US$ 250 million.
Manjushree is the largest PET packaging producer in India with an installed capacity of 125,000 MT / annum
Manjushree has a portfolio of many large FMCG and Beverage majors including Coke, Nestle, Patanjali, Nestle, Mondelez among others.