Advent agrees to sell Indian packaging firm to PAG for close to $1 billion, sources say

Business

HONG KONG :U.S. private equity firm Advent International has signed a deal to sell Indian packaging company Manjushree Technopack to PAG for an enterprise value of close to $1 billion, two sources with direct knowledge said on Friday. Advent, which invested in the company in 2018, was planning to take Manjushree Technopack public but opted for a sale that will end the offering process, the people said. Manjushree did not immediately respond to Reuters' requests for comment. Advent and PAG,