Scapa eyes South Korean acquisition

TECHNICAL tapes group Scapa is in talks to buy a South Korean speciality tapes business with a private equity fund.

Responding to press speculation, the company said it had entered into a consortium agreement with SkyLake Incuvest, also based in South Korea, to bid for Tapex, which makes tape for the electronics, consumer and industrial markets.

It said: “Both parties are in preliminary discussions with Tapex, which may lead to its joint acquisition.

“Discussions are at an early stage and there is no certainty that a transaction will be completed.”

Scapa is based in Ashton-under-Lyne and has a listing on the London Stock Exchange.