Private equity firms EQT and Affinity are in a bidding war for Malaysian synthetic rubber glove manufacturer YTY Group, Reuters reported. The deal for YTY Group could reach as high as $500 million, Reuters said.
(Reuters) – Private equity firms EQT and Affinity are involved in a bidding war for unlisted Malaysian synthetic rubber glove manufacturer YTY Group in a deal worth up to $500 million, sources with direct knowledge of the deal told Reuters on Thursday.
The bidding process is ongoing and the final price will likely be close to $500 million, one source with direct knowledge of the matter told Reuters.
EQT, based in Sweden, and Affinity, which invests in Asia-Pacific, are among the interested bidders for YTY, the sources said.
EQT declined to comment, while YTY and Affinity were not immediately available for comment.
($1 = 3.036 Malaysian Ringgit)