Sealed Air sell Diversey Carlyle $377 million

Sealed Air to sell Diversey to Carlyle for $377 million

12:18 PM, 30th October 2012
Sealed Air to sell Diversey to Carlyle for $377 million
William V Hickey, CEO, Sealed Air.

ELMWOOD PARK, US: Sealed Air Corporation has entered into a definitive agreement with an investment vehicle of The Carlyle Group, for Carlyle to acquire Diversey GK for gross proceeds of approximately ¥30 billion ($377 million). The transaction is expected to be completed in the fourth quarter of 2012, subject to the satisfaction of customary closing conditions.

The price will be subject to certain purchase price adjustments. The company noted that Diversey Japan will now be accounted for as a discontinued operation as of 30 September 2012, which is expected to impact third quarter 2012 net earnings per share by $0.03.

“The determination to sell Diversey Japan follows a strategic portfolio review aimed at focusing on higher growth countries in which our portfolio offers the greatest potential. We are very committed to our strategy of growing our presence in food safety and security, facility hygiene and product protection globally. We intend to continue our close relationship with Diversey Japan as we collaborate in areas such as product development, procurement and providing quality service to customers. The sale of Diversey Japan allows us to continue to offer leading solutions and service levels, while accelerating debt reduction and generating value for our stockholders,” said William V Hickey, CEO, Sealed Air.

© WOC News 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Scientists change colour of the gold

SOUTHAMPTON, UK: University of Southampton team has discovered a ground-breaking initiative of changing the colour of the world’s most iconic pr ...

Read more
Eastman completes acoustics extrusion line in Ghent, Belgium

KINGSPORT, US: Eastman Chemical Company has completed its Saflex Q series advanced acoustic polyvinyl butyral (PVB) extrusion line in Ghent, Belgium. ...

Read more
DKSH build strategic partnership with Clariant

ZURICH, SWITZERLAND: DKSH’s Business Unit Performance Materials has started a strategic partnership with Clariant. With Clariant’s Busines ...

Read more
China reviews anti-dumping tariffs on food additives from Indonesia and Thailand

BEIJING, CHINA: China’s Ministry of Commerce (MOC) has launched a review of anti-dumping tariffs on certain food additives imported from Indones ...

Read more
Bayer to acquire Schiff Nutrition for $1.2 billion

LEVERKUSEN, GERMANY/NEW JERSEY, US: Bayer HealthCare LLC has signed a merger agreement to acquire Schiff Nutrition International, a leading company of ...

Read more
IMCD to acquire food ingredients distributor in Indonesia

SINGAPORE: IMCD Group has signed an agreement to acquire all activities of PT Alam Subur Tirta Kencana, a Jakarta-based leading food ingredients distr ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X