Saint-Gobain, the French materials group, says it has received signs of interest for its packaging unit but declined to comment on press reports that a Portuguese firm had made a EUR 4BN (£3.2bn) offer for the business. Portuguese newspaper Publico reported 31 July that a group of EU banks are ready to finance Portugal's BA Vidro's $4bn acquisition of the packaging unit. BA Vidro is the second-largest glass packaging producer in the Iberian Penninsula with annual sales of Euros 234M. A spokesman for the company declined to comment on the possible bid. Last week Saint-Gobain's finance director Benoit Bazin told an analysts meeting that the group might issue bonds or sell its packaging activities for refinancing. "We did not do it in the first half because we did not need any particular refinancing in 2008. We have time, between the second half and 2009," he said.
