AUSTRALIA: Southcorp sell US packaging but interim profits take a hit
Southcorp completed the sale of its packaging division yesterday by offloading its US division for $A175m to a management buyout team. This sale follows the sale of its Asian packaging operations to Visy for $A800m. The addition of the US deal to the earlier Visy sale has generated close to $A1 billion for Southcorp in line with targets set out when the sale was planned last year.
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