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Ess Dee Aluminium may buy Italian co

Ess Dee Aluminium, a leading provider of packaging solutions, is in advanced talks to buy Comital, an Italian firm almost five times its size, for $125-150 million. A deal will help Ess Dee Aluminium expand its presence in the consumer packaging business and ramp up global operations. “We have been looking overseas for acquisition opportunities. But I have no comments to make on any specific transaction,” said Sudip Dutta, CMD of Ess Dee Aluminium. Mr Dutta owns close to 60% of the publicly listed firm, which provides packaging solutions for drugmakers and food industry. Comital is majority owned by Milan stock exchange-listed investment group Management & Capitali. Comital group had revenues of $403 million for the year ended December 2008. Bank of America Merrill Lynch is the banker facilitating the transaction. [...]