Reuters: Private Equity: Blackstone set to sell Kloeckner Pentaplast-sources

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Blackstone set to sell Kloeckner Pentaplast-sources Jun 21st 2012, 10:53 FRANKFURT, June 21 | Thu Jun 21, 2012 6:53am EDT FRANKFURT, June 21 (Reuters) - Blackstone Group LP is set announce the sale of its debt-laden German plastic films group Kloeckner Pentaplast to hedge fund SVP and junior lenders, three people familiar with the matter said. These people on Thursday said that senior lenders would get back loans at face value, but that Blackstone would lose the remaining equity stake worth about 100 million euros ($127 million).

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