Italian industrial and packaging solutions company Coesia and German automation to logistics systems company Koerber are planning to bid for engineering and electronics company Bosch’s packaging machinery unit.
The packaging machinery business is expected to secure a valuation of 500 to 600 million euros ($570 to $684 million), including debt.
Earlier this year, Bosch put its unit up for sale as part of a portfolio overhaul which will see the company emphasise electric and autonomous car technologies.
Bosch Packaging is expected to post earnings before interest, tax, depreciation and amortization of about $45.2 million this year.