UPDATE 1-JPMorgan unit buys 66 pct of Constantia Packaging
* One Equity buys 66 pct of Constantia Packaging
* Constantia B.V. will retain up to 25 pct stake
* One Equity bid for remaining shares at 38.67 euros (Adds confirmation of deal and details)
VIENNA, Oct 12 (Reuters) - One Equity Partners, a unit of JPMorgan Chase & Co (JPM.N), said on Monday it had bought 66 percent of Austria's Constantia Packaging AG (CVER.VI), a deal that should help Constantia's owner settle a financial dispute.
One Equity, which did disclose terms of the deal, said Dutch holding company Constantia B.V. would retain a stake of up to 25 percent.
One Equity said in a statement it would make an offer for the remaining stake at 38.67 euros per share, a slight premium to Monday's closing price of 37.79 euros.
Constantia B.V. has been trying to use its stake in Constantia Packaging, worth just under 420 million euros ($618 million) at Monday's closing share price, to settle a financial claim that Austrian real estate group Immoeast (IMEA.VI) has against it.
Constantia BV said earlier this month that it had offered to pay Immoeast 164 million euros in cash and hand over assets of more than 200 million euros to settle the claim. (Reporting by Eva Komarek, Writing by Michael Shields and Sylvia Westall; editing by John Wallace)
