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Loews Corp to sell 47% stake in packaging subsidiary to Singapore's GIC

Loews, which owns firms in the insurance, energy, hospitality and packaging industries, expects to receive about $410 million in cash as part of the deal, resulting in about pre-tax gain of $490 mn

Illustration: Ajay Mohanty
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Atlanta, Georgia-based Altium Packaging serves a diverse network of market segments, and its recycled resin business is a top supplier of recycled high-density polyethylene in North America | Illustration: Ajay Mohanty

Reuters
Loews Corp said on Friday it would sell 47% stake in subsidiary Altium Packaging to Singapore's sovereign wealth fund GIC in a deal valuing the packaging solutions provider at $2 billion.
 
Loews, which owns companies in the insurance, energy, hospitality and packaging industries, expects to receive about $410 million in cash as part of the deal, resulting in about pre-tax gain of $490 million.
 
Atlanta, Georgia-based Altium Packaging serves a diverse network of market segments, and its recycled resin business is a top supplier of recycled high-density polyethylene in North America.
 
Having Loews and GIC as partners will help pursue

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