Benzinga | Oct 13, 2021 05:57AM EDT

Pactiv Evergreen To Divest 50% Interest In Naturepak Beverage JV

* Pactiv Evergreen Inc's (NASDAQ:PTVE) wholly-owned subsidiary, Evergreen Packaging International LLC, has agreed to sell its 50% interest in Naturepak Beverage Packaging Co Ltd to Elopak ASA, a global supplier of carton packaging and filling equipment. The financial terms of the deal remain undisclosed.

* Naturepak Beverage is a joint venture by Evergreen Packaging and Gulf Industrial Group Company Plc.

* Naturepak Beverage caters to customers in the Middle East and Africa region from manufacturing plants in Morocco and Saudi Arabia.

* Price Action: PTVE shares closed lower by 0.08% at $12.44 on Tuesday.