- 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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