German pharmaceutical packaging manufacturer Gerresheimer has agreed to sell two of its plastic packaging businesses to funds advised by Apax in a transaction valued at €1.5bn, including debt, according to a report by Reuters.
The move comes as Gerresheimer continues efforts to strengthen its balance sheet following a period of financial and governance challenges.
The transaction covers Gerresheimer’s global Primary Packaging Plastics division alongside US-based Centor, a manufacturer of plastic...
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