Reuters: Private Equity: KKR, Blackstone, others eye stake in Australia's Pact-sources

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KKR, Blackstone, others eye stake in Australia's Pact-sources Jun 15th 2012, 01:59 HONG KONG, June 15 | Thu Jun 14, 2012 9:59pm EDT HONG KONG, June 15 (Reuters) - Global buyout firms Blackstone Group L.P., Bain Capital, Carlyle Group and KKR & Co L.P. are talking to banks about potential bids for a stake in privately held Australia packaging company Pact, according to sources with knowledge of the matter. Pact has hired Deutsche Bank to advise on the sale of around 50 percent of the company, as it seeks a partner to help it generate new growth outside Australia, the sources said. They spoke on condition of anonymity because the matter is confidential. The firm has set an end-June initial deadline for first-round bids, they said. Pact is controlled by Raphael Geminder, son-in-law of the late billionaire Richard Pratt. A spokeswoman for Pact could not immediately comment, while KKR, Bain and Deutsche Bank declined to comment. Carlyle and Blackstone were not immediately available for comment.

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