Ontario Teachers’ Pension Plan Board will buy Carlyle Group’s majority stake in Logoplaste for an undisclosed value, the Portuguese plastic packaging maker said on Friday.

Logoplaste said current shareholders and family owners Filipe de Botton and Alexandre Relvas will retain around 40% stake in the business.

Carlyle had shortlisted BC Partners, Apax, Ontario Teachers and Stonepeak Infrastructure Partners in the sale of its majority stake worth up to 1.4 billion euros ($1.70 billion), people close to the matter told Reuters earlier this month.

Read more at: Reuters

By Tanishaa Nadkar and Ramakrishnan M.

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