Three investment firms are considering making an offer for plastic film maker Klöckner Pentaplast Group, according to a Bloomberg news report.
The story, which quotes anonymous sources familiar with the matter, said the buyers may bid up to 1.5 billion euros ($2 billion) for the company. The report named Apollo Global Management LLC, Ares Management LP and Platinum Equity LLC as potential bidders.
In May, news agencies had reported that Klöckner's majority owner, Strategic Value Partners, had hired advisers and expected to receive tentative bids in July.
Greenwich, Conn.-based hedge fund SVP acquired Klöckner Pentaplast in summer 2012 from New York private equity firm Blackstone Group LP. Blackstone had acquired Klöckner Pentaplast in 2007 from Cinven Partners LLP of London.
Klöckner's headquarters is in Montabaur, Germany, and its North American headquarters is in Gordonsville, Va.