COURBEVOIE (dpa-AFX) - Apollo Global Management, LLC (APO) is the leading bidder for Saint-Gobain's (CODGF.PK) glass-packaging unit Verallia, Bloomberg reported citing people familiar with the matter.
Quoting the people, the report said that the deal, which may be announced as soon as Monday, is valued at more than 2.8 billion euros or $3.1 billion. There is still a possibility that another bidder might trump Apollo at the last minute.
Saint-Gobain Chief Executive Officer Pierre-Andre de Chalendar said Thursday that Verallia attracted five bids. The company, based in Courbevoie near Paris, is selling the business as it refocuses on building materials.
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