PRINT THIS PAGE Buy-out groups join forces to submit new €3-4bn bid for manufacturer Basell14/01/2005. Source: AltAssets. 
 Two groups of private equity bidders have joined forces to submit a joint bid of between €3bn and €4bn for the European plastics maker being sold by BASF and Shell, according to Reuters.
Blackstone, Apollo, Bain Capital and Goldman Sachs Private Equity have all teamed up to win this deal but still face tough competition, especially from potential trade buyers. Previously, Blackstone had submitted a joint bid with Apollo and Bain with Goldman Sachs Private Equity.
Basell is a producer of polypropylene and advanced polyolefins products, a supplier of polyethylene and catalysts and a global player in the development and licensing of polypropylene and polyethylene processes.
BASF and Shell are expected to shortlist bidders by next week.
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