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Benzinga
Benzinga
Business
Shivani Kumaresan

Pactive Evergreen To Sell Carton Packaging, Filling Machinery Businesses In China, Korea & Taiwan

  • Pactive Evergreen Inc (NASDAQ:PTVE) subsidiary, Evergreen Packaging International LLC, has agreed to sell its carton packaging and filling machinery businesses in China, Korea, and Taiwan to SIG Schweizerische Industrie-Gesellschaft GmbH for an enterprise value of $335 million.
  • Pactive Evergreen noted that the transaction completion would further its strategic focus in North America.
  • The company expects to close the deal in the second or third quarter of 2022.
  • Pactive Evergreen held $627 million in cash and equivalents as of September 30, 2021.
  • Price Action: PTVE shares closed higher by 2.14% at $12.86 on Tuesday.
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