US fund Advent to sell packaging company Manjushree for $1 billion

HONG KONG

: US 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, which is headquartered in Hong Kong, declined to comment.