New bids for Smurfit business

CVC and Nordic Capital are to make a bid for Jefferson Smurfit Group’s Scandinavian paper and packaging business, sources said.

The other two bids shortlisted for Smurfit Munksjo, which makes paper, pulp and tissue, are Electra Partners Europe and Scandinavian buyout firm EQT.

The next round of bids is due towards the end of October, and the sale is expected to conclude this year, the sources said.