Pactiv Evergreen To Divest 50% Interest In Naturepak Beverage JV

Pactiv Evergreen Inc's PTVE wholly-owned subsidiary, Evergreen Packaging International LLC, has agreed to sell its 50% interest in Naturepak Beverage Packaging Co Ltd to Elopak ASA, a global supplier of carton packaging and filling equipment. The financial terms of the deal remain undisclosed.
Naturepak Beverage is a joint venture by Evergreen Packaging and Gulf Industrial Group Company Plc.
Naturepak Beverage caters to customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia.
Price Action: PTVE shares closed lower by 0.08% at $12.44 on Tuesday.