The company, which has annual sales of A$2.1bn, could sell for up to seven times its fiscal 2013 earnings, according to Business Day, which put the top sale price at $1.4bn.
Indicative bids are expected next week, the report added.
The news comes a month after Blackstone appointed James Carnegie as a senior advisor focusing primarily on the firm’s Australian private equity activities.
Based in Sydney, Carnegie was most recently a partner with Archer Capital, one of Australia’s leading domestic private equity firms.
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