Cascades to sell Dopaco unit to Reynolds Group for $400 million in cash

摘要

Cascades entered into an agreement to sell its quick-service restaurant packaging converting unit Dopaco to Reynolds Group Holdings for a cash consideration of $400 million. Estimated net proceeds of $337 million from the transaction will mainly be used to pay down Cascades' debt. In connection with the transaction, Cascades will continue to supply boxboard to Dopaco, through a five-year supply agreement.