TPG, Goldman set to buy Candover’s Ontex -sources

LONDON, July 5 (BestGrowthStock) – TPG and Goldman Sachs’s private
equity arm are close to a deal to buy Ontex, the European
private-label diaper maker, from buyout firm Candover for 1.2
billion euros ($1.5 billion) or more, people familiar with the
matter said.

The parties hope to conclude a deal this week, although
talks could still break down, the people added.

The possible sale of Ontex, which competes with Procter &
Gamble’s (PG.N: ) Pampers diaper brand, was first reported by the
Sunday Telegraph.

TPG [TPG.UL], the U.S. buyout firm, has all but held off
from European dealmaking for several years, but last month
struck a 300 million pound ($464 million) deal to buy British
fashion retailer Republic. [ID:nLDE65K0IZ]
People familiar with the matter say TPG is also working on a
joint bid with Clayton, Dubilier & Rice for Royal Bank of
Scotland’s 2.5 billion pound payment-processing business, known
by its WorldPay brand. [ID:nLDE65F2BF]

Candover (CDI.L: ), Goldman Sachs (GS.N: ) and TPG declined to
comment.

($1=.6465 Pound)

($1=.8172 Euro)

(Reporting by Quentin Webb, editing by Michael Shields)

TPG, Goldman set to buy Candover’s Ontex -sources