Omani plastics company Octal is said to weigh in on a sale of $ 800 million

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Octal, an omix manufacturer of plastic packaging, is considering a sale, according to those familiar with the matter.

The Muscat-based company is working with JPMorgan Chase & Co. as it is considering selling a controlling stake, people said, asking not to be identified when discussing sensitive information. A sale could be worth about $ 800 million Octal, one of the people said.

According to the population, Octal has already aroused the interest of strategic applicants in Asia and the USA. A JPMorgan representative declined to comment, while an Octal spokesman was unavailable for comment.

Founded in 2006, Octal manufactures polyethylene terephthalate, a type of plastic used to package food and consumer products. The company has offices in Oman, Saudi Arabia, and the United States and, according to its website, ships its products to more than 75 countries.

According to Bloomberg, a sale would add $ 96 billion in deals for businesses in the Middle East and Africa this year. That is more than three times that of the same period in 2020.

– With the support of Turki Al Balushi

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