Carlyle considers $6 billion sale or IPO for Novolex - Bloomberg
Reuters
Published Sep 12, 2021 10:22PM ET
(Reuters) - Carlyle Group (NASDAQ:CG) Inc is considering either a $6 billion sale or initial public offering (IPO) for packaging company Novolex Holdings, which it bought more than four years ago, Bloomberg said on Sunday, citing people familiar with the matter.
The private equity firm has been interviewing banks for a strategic review of the Hartsville, South Carolina-based company in the first half of 2022, the report added https://bloom.bg/3hrmfxp.
Novolex could be valued at about $6 billion should Carlyle choose to sell the company or opt for an initial public offering, although no final decision has been made and the firm could elect to keep the business, Bloomberg reported.
Novolex operates dozens of plants globally with brands including Hilex Poly, Duro Bag and Burrows Packaging (NYSE:PKG), according to the company's website.
Carlyle and Novolex did not immediately respond to a request for comment.
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Written By: Reuters
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