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Bloomberg
JM Holding GmbH, a German family-owned investment vehicle, is exploring options including a partial sale of the business that controls two plastics companies, according to people with knowledge of the matter.
A sale of about half of the firm, which is under consideration by some of the owners, would give buyers an equal proportion of two closely held German plastics firms — Renolit Group and RKW Group — in its portfolio, the people said, declining to be identified as the deliberations are confidential.
A transaction may value the entire investment firm, including its debt, at about 2.5 billion euros ($2.9 billion), one of the people said. Some of the family members behind JM Holding are working with financial advisers as they explore options including a stake sale or initial public offering as well as the possibility of a full disposal, the people said.
Representatives for JM Holding didn’t respond to requests for comment.
The potential sellers have reached out to several private equity firms including Cerberus Capital Management and Apollo Global Management to gauge their interest, and the first bids are due by the end of the month, one of the people said.