Strategic Value Partners (SVP, Greenwich, Connecticut / USA; www.svpglobal.com) appears to have launched another attempt at selling rigid films manufacturer Klöckner Pentaplast (kp, Montabaur / Germany; www.kpfilms.com). International media report that the deal could fetch up to EUR 1.5 bn, with tentative bids expected to start arriving in July.

SVP first acquired the German company, which produces plastic film for the food and medical sectors, in 2012 – see Plasteurope.com of 25.06.2012. The investor had tried to divest kp in autumn last year but failed as potential buyers were reportedly unwilling to meet its asking price. Reuters speculates that the company could either be marketed to private equity firms like Carlyle, Bain or Advent, or could be snatched up by industry rivals like Bilcare, Perlen or Mondi.

The company reported a 14% year-on-year increase in operating profit of EUR 174m for the year ended 30 September 2013, with sales up 2% at EUR 1.17 bn and debt down by EUR 90m to EUR 430m – for details, see Plasteurope.com of 18.12.2013.