Pecik Eyes Stake in AMAG

Investor Ronny Pecik intends to take a stake in Austrian aluminium group AMAG, Reuters reported, citing Format magazine. Main owner CP Group 3, a joint venture between One Equity Partners and Constantia Packaging, has a 34.5% stake worth nearly 220 million euros ($292.9 million) at current market prices that it is ready to sell, Reuters wrote.

(Reuters) – Investor Ronny Pecik intends to take a stake in Austrian aluminium group AMAG and has been sounding out potential partners to raise money for a deal, Format magazine reported on Friday, citing unnamed banking sources.

Main owner CP Group 3, a joint venture between One Equity Partners (OEP) and Constantia Packaging, has a 34.5 percent stake worth nearly 220 million euros ($292.9 million) at current market prices that it is ready to sell, the report said.

“We are negotiating with a few interested parties but are not in a hurry to sell,” the magazine quoted an OEP spokesman as saying. OEP is an affiliate of JPMorgan Chase.

The report could not be independently confirmed immediately.

 

AMAG went public last year.