Amcor looking at CHH

Amcor, Australia's largest packaging maker, may be interested in bidding for some of Carter Holt Harvey's paper and packaging units, says chief executive Ken MacKenzie.

Carter Holt, New Zealand's largest timber company, may be broken up, say investors, as the United States company International Paper looks at options for selling its controlling 50.5 per cent stake.

"There are some components of Carter Holt's business that overlap, particularly the paper and packaging side, with Amcor," MacKenzie said in Melbourne. "We are aware of International Paper's announcement. We are currently reviewing the situation."

Amcor had not hired any bankers to advise on a bid, he said.

"It would be a relatively natural fit for Amcor," said Atul Lele, at White Funds Management in Sydney. Amcor had a good track record of managing past acquisitions.

Visy Industries, an Australian packaging company controlled by billionaire Richard Pratt, said last month that it might bid for some of Carter Holt's assets.

Visy is not interested in bidding for the whole company.

- BLOOMBERG