The deadline for final bids to buy O-I’s Australasian business has been pushed back once again.

Final bids were originally due February 19, then February 27, but has been delayed once again.

Private equity group Blackstone has pulled out of the running to buy the business.

It leaves Visy Packaging and Pacific Equity Partners as the final bidders for the world's largest glass container manufacturer.

O-I has glass manufacturing facilities in Sydney, Melbourne, Brisbane, Adelaide and Auckland.

O-I’s Australia and New Zealand business generates $140m of annual earnings before interest, tax, depreciation and amortisation and $750m revenue.