With immediate effect
Essel Propack announced the divestment of its wholly owned subsidiary, Packaging India (PIPL) to Amcor Flexibles India with immediate effect.The agreement has been signed and the deal is completed with full cash consideration. The enterprise value of the divested business is Rs 165 crore.
The divestment is part of Company's strategy to exit non-core adhesive lamination packaging business and pursue growth opportunity in its core tube packaging business which has great potential across the globe in the Beauty & Cosmetics, Pharma & Health and Food categories.
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