Sonoco discloses pending $419 million divestiture in China amid period of significant change, Packaging Dive reports
CEO Howard Coker said the pending purchase of Eviosys and two other potential divestitures would create a company focused primarily on metal and fiber products.
In June, the investment group KPS Capital Partner reached an agreement for the sale of its investee Eviosys to the US group Sonoco Products Company in a transaction valued at 3,900 M$ (3,615 M€). The agreement includes a clause according to which the company could cover part of this price, about 200 M$ in the form of own shares. The transaction, which is expected to be completed by the end of 2024, will mean an important leap for the U.S. group in terms of its activity and presence. For the time being, it is awaiting the approval of the British economic authorities.
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