Banks pitch US$900m Albea refinancing and division as sale process cools

By Arno Schuetze and Claire Ruckin LONDON (Reuters) - Banks are pitching a refinancing and dividend recapitalisation of around US$900m-equivalent for private equity owned French packaging group Albea as a potential sale seems increasingly unlikely, banking sources said on Tuesday. Private equity group Sun Capital put Albea up for sale last year with the help of investment bank Lazard and first-round bids were due in November. Bankers are now pitching alternatives to a sale after Sun Capital stru