Pactiv Evergreen gains on sale of carton packaging businesses

Pactiv Evergreen

05/01/2022 15:12

** Shares of fresh food and beverage packaging co  PTVE.O 
up as much as 7.35% at $13.81, touching their highest level
since November 2020  
    **  Co's unit Evergreen Packaging to sell its carton
packaging and filling machinery businesses in China, Korea and
Taiwan to packaging co SIG Combibloc Group Ltd, for $335 million
 urn:newsml:reuters.com:*:nGNX4jpjFX
    ** Deal is expected to close in the second or third quarter
of 2022
    ** The transaction will position company to further 
strategic focus in North America- PTVE CEO
    ** Stock was up ~8% YTD, as of last close 

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))