Blackstone Is Said to Work With Citi on $1 Billion ShyaHsin Sale

Blackstone Inc. has picked Citigroup Inc. to help prepare for a potential sale of ShyaHsin Packaging, according to people with knowledge of the matter.

The alternative asset manager may seek a valuation of at least $1 billion for the Chinese packaging firm in a transaction, the people said, asking not to be identified because the information isn’t public. A sale process might kick off later this year, the people said.

Other private equity firms and industry players have shown preliminary interest in the asset, the people said. Considerations are ongoing and Blackstone may still decide to retain the asset ...