Edition:
India

Essentra Says Divests Speciality Tapes Business


Thursday, 20 Jun 2019 

June 20 (Reuters) - Essentra PLC ::DIVESTMENT OF SPECIALITY TAPES BUSINESS.TRANSACTION VALUES SPECIALITY TAPES AT US$77M (APPROXIMATELY £61M), FREE OF CASH AND DEBT..SIGNED AN AGREEMENT TO DIVEST ITS SPECIALITY TAPES BUSINESS (DURACO SPECIALTY TAPES LLC) TO CERTAIN WHOLLY-OWNED SUBSIDIARIES OF OPENGATE CAPITAL.CONSIDERATION WILL BE PAYABLE ON COMPLETION OF TRANSACTION AND WILL BE SATISFIED FULLY IN CASH.ESSENTRA PLC - BOARD INTENDS TO USE PROCEEDS TO FURTHER STRENGTHEN ESSENTRA'S BALANCE SHEET. 

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