Lindsay Goldberg puts plastics firm Weener up for sale - sources

FRANKFURT, Nov 12 (Reuters) - Buyout group Lindsay Goldberg has put German packaging company Weener Plastik up for sale and could attract a price of around 400 million euros ($500 million), two people familiar with the matter said.

The private equity firm has mandated investment bank Macquarie to handle the sale of the packaging business which expects to post 2014 earnings before interest, tax, depreciation, and amortisation (EBITDA) of 50 million euros on sales of 275 million, the sources said.

Rival buyout firms such as CD&R, Ardian, Charterhouse and Bain handed in tentative bids for the maker of cosmetics, food and home care packaging several days ago, they said.

They added the offers valued Weener Plastik at roughly 8 times its earnings, in line with listed peers.

Some trade players have also shown interest, the sources said, without elaborating. Peers include Silgan, Berry , RPC (NYSE: RES - news) , Alpla and Lawco.

Since Lindsay Goldberg's 2012 purchase of Weener, it has strengthened the company with the acquisition of Dutch peer Plasticum.

Macquarie and the private equity groups declined to comment.

(1 US dollar = 0.8032 euro) (Reporting by Arno Schuetze; Editing by Mark Potter)