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Advent agrees sale of Indian packaging firm to PAG for nearly $1bn

Summary by Private Equity Wire
US private equity firm Advent International has reached an agreement to sell Indian packaging giant Manjushree Technopack to Hong Kong-based investment firm PAG for an enterprise value nearing $1bn, according to a report by Reuters. The reports cites unnamed sources with direct knowledge of the matter as saying that Advent, which acquired Manjushree in 2018, had initially been preparing for an initial public offering (IPO), with Manjushree filli…
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