MILAN/FRANKFURT May 12 Private-equity held
Italian packaging firm Guala Closures is moving ahead with plans
for a sale or a stock market listing that may value the company
at more than 1 billion euros ($1.1 billion), sources close to
the matter said.
Guala's main shareholder, Apriori Capital Partners, has
asked Credit Suisse and Barclays to lead the
divestment process of the company specialising in closures, such
as bottle tops, for sealing spirits, they said.
The banks declined to comment, while Apriori was not
immediately available for comment.
Guala posted earnings before interest, tax, depreciation and
amortization of 105 million euros in 2016. It may be valued at
9-11 times its expected 2017 core earnings of 110 million, the
The auction is expected to start before the summer break
with a view to signing a sale or launching an initial public
offering in the fourth quarter, one of the sources said. ($1 =
(Reporting by Elisa Anzolin and Arno Schuetze, editing by