THE WHAT? Carlyle Group is rumored to be poised to takeover Chinese packaging firm HCP this summer, according to a report published by Bloomberg quoting ‘sources familiar with the matter’.

THE DETAILS The US private equity firm and HCP-owner Baring Private Equity Asia are said to have finalized the details of the deal this week; the transaction will now be subject to regulatory approval and is slated for completion this summer.

THE WHY? BPEA was reported to have shelved a potential sale of HCP earlier this spring after concerns over its valuation. The Asian buyout firm was said to be expecting some US$1.5 billion for the cosmetics packaging supplier.