Bahrain-based investment firm Investcorp Bank BSC is looking to sell Berlin Packaging LLC in a deal that could value the U.S. packaging distribution company at around $1.3 billion, according to people familiar with the matter. Investcorp has hired investment banks Barclays Plc and Deutsche Bank AG to run a sale process for Berlin Packaging, the people said this week.The company has annual earnings before interest, tax, depreciation and amortization of roughly $100 million, some of the people added, asking not to be identified because the deliberations are not public.Berlin Packaging, Investcorp, Barclays and Deutsche Bank representatives declined to comment.Investcorp acquired a majority stake in Chicago-based Berlin Packaging in 2007 for $410 million.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS fell by 1.01% or $-0.165/share to $16.20. In the past year, the shares have traded as low as $15.32 and as high as $19.59. On average, 2719660 shares of BCS exchange hands on a given day and today's volume is recorded at 576840.
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Shares of DB fell by 0.47% or $-0.18/share to $38.02. In the past year, the shares have traded as low as $37.16 and as high as $51.99. On average, 1483210 shares of DB exchange hands on a given day and today's volume is recorded at 975525.
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