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MBK Partners eyes $565m exit from Techpack

28 Oct 2013

Korea flagPrivate equity firm MBK Partners is reportedly looking to sell Techpack Solutions, expecting the South Korean packaging products supplier to fetch up to KOW600bn ($565m), which is more than ten times its EBITDA.

MBK has hired Bank of America Merrill Lynch to manage the sale and plans to contact public companies and private equity firms according to Reuters, which cited people familiar with the matter.

The Hong Kong-based firm bought Techpack, which makes cans and bottles, for KOW392bn in 2008.

The company posted an EBITDA of KOW54bn over the past 12 months according to one of the Reuters sources.

Packaging companies in the Asia pacific region are valued at 8.9 times EBITDA according to StarMine.

MBK recently closed its third fund on $2.7bn. The new vehicle will target companies in China, Hong Kong, Japan, South Korea and Taiwan, predominantly seeking controlling stakes.

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