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Bain Capital receives $69m in Greatview stake sell-down

20 Feb 2013

Greatview packagingUS buyout house Bain Capital has reportedly raised about $69m selling some of its stake in Hong Kong-listed packaging company Greatview Aseptic Packaging.

The firm sold 110 million shares at HK$4.85 each according to IFR Asia, which cited sources familiar with the transaction.

That price represented a discount of about 5.6 per cent on the China-headquartered company’s closing price on Tuesday. Morgan Stanley acted as sole bookrunner on the deal, IFR added.

Bain bought into Greatview for $40m in 2006, when the company was known as Tralin Pak. That MBO deal brought its market capitalisation to $60m.

The company changed its name to Greatview in November 2010, and listed on the Hong Kong Stock Exchange a month later.

Greatview provides aseptic packaging to dairy and non-carbonated soft drink producers.

Last July Bain completed the $800m purchase of plastic packaging solutions business Consolidated Container Company from Vestar Capital.

The company, which employs more than 2,000 people across 59 North American manufacturing facilities, makes packaging for industries including dairy, household, and food and drink.

Bain Capital managing director Seth Meisel said the firm hoped to help CCC further expand its business across North America.

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