* Citi hired to find buyer for Schoeller Allibert - sources
* Could be valued at 400-500 mln eur - sources
* Schoeller Allibert owned by JP Morgan, Schoeller family (Adds details on valuation, other pending deals)
By Arno Schuetze
FRANKFURT, Dec 14 (Reuters) - Dutch packaging makerSchoeller Allibert is exploring a sale as its owners seek anexit after reshaping the company, adding to a string of deals inthe sector, three people close to the matter said.
Majority owner JP Morgan as well as co-investorSchoeller, a German family, have asked Citi to find abuyer for the maker of plastic boxes, which may be valued atabout 400 million to 500 million euros ($426-$532 million), thepeople said.
Schoeller Allibert was formed from a series of mergers,combining among others Schoeller, the inventor of the plasticbeer crate, with peers Allibert and Arca Systems.
The group is expected to post earnings before interest, tax,depreciation and amortisation (EBITDA) of 55 to 60 million eurosthis year and may be valued at seven to eight times that, thesources said.
JP Morgan has repeatedly had to inject capital into thegroup. While the bank holds a majority stake in the company, theinvestment is managed by One Equity Partners, its former privateequity arm.
JP Morgan and OEP declined comment, while Citi and theSchoeller family were not available for comment.
Schoeller Allibert is one of several packaging makers on themarket.
Private equity-owned French group Albea is expecting finalbids before Christmas with British peer RPC seen asleading bidder, while the interest of private equity groups suchas Advent and a consortium of PAI and Bain has cooled, sourcesfamiliar with that deal said.
U.S. packaging group Westrock's soap dispensers andperfume sprayers unit has attracted private equity interest frominvestors such as CCMP Capital or Goldman Sachs' private equityarm, people familiar with that deal said.
The parties involved in these auctions declined to commentor were not immediately available for comment.
($1 = 0.9399 euros) (Additional reporting by Toby Sterling and Claire Ruckin;Editing by Maria Sheahan and Adrian Croft)