A report indicates that General Electric (GE) is seeking bidders for its plastics business, valued at US$10 bln. There appear to be restrictions on the ability of bidders to team up with other firms, but the exact details are not known. Goldman Sachs Group Inc. is reported to be acting on behalf of GE and has contacted potential plastics-industry bidders, including Apollo Management, Bain Capital, the Blackstone Group BG.UL and Kohlberg Kravis Roberts & Co. The high cost of key feedstock benzene is reported to have squeezed margins last year, prompting the sale of the business.
10-Jan-07 
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