Wendel: Constantia Flexibles completes a sale.
(CercleFinance.com) - Wendel announces the finalization of Constantia Flexibles' disposal of its label and packaging packaging business to Multi-Color Corporation, for an enterprise value of approximately 1.
15 billion euros (1.3 billion dollars).
Constantia Flexibles, of which Wendel is the majority shareholder with a 60.5% stake in its capital, has received approximately 830 million euros, and will continue to support Multi-Color's future success story through a 16.6% stake in its capital.
"With this high-quality transaction, Constantia Flexibles has generated new financial resources that will enable it to continue making acquisitions in the area of flexible packaging," Frédéric Lemoine, Wendel's board chairman said.
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