Sun Capital Management Corp. (JASDAQ:2134) is planning to sell Albea Services S.A.S. According to the news report, the latter has attracted final bids from several firms. People close to the matter said that the firm could be valued at more than $1.5 billion in a second attempt at a sale, people close to the matter said. The news report stated that after an unsuccessful auction in 2016, Sun launched another attempt to sell Albea in September 2017, helped by investment bank Lazard and hoping to benefit from high valuations in the sector.

Onex Corporation (TSX:ONEX), Partners Group Holding AG (SWX:PGHN) and a consortium comprising Bain Capital Private Equity, LP and PAI Partners recently handed in final offers for the company, the sources said, adding that no one has so far been picked to enter exclusive talks on a potential acquisition. According to the news report,Sun Capital, Lazard and the potential bidders declined to comment or were not immediately available for comment Bids have valued Albea at 8 to 8.5 times expected 2017 earnings before interest, taxes, depreciation and amortisation (EBITDA) of just below $190 million, the people close to the matter said.