Sealed Air closes sale of Diversey Japan to Carlyle for gross USD373m
Nov 15, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Sealed Air Corporation SEE, a facility hygiene, product protection and food safety and security solutions company, closed the sale of an indirect subsidiary of Diversey Inc, Diversey GK (Diversey Japan), to an investment vehicle of The Carlyle Group (Carlyle) for gross proceeds of about USD373m, the company declared on Wednesday.
Net proceeds of about USD300m, after-tax, cash proceeds will partly prepay its currently outstanding term loans under its senior secured credit facilities, the company said.
Diversey Japan was classified as a discontinued operation as of 30 September 2012, while other details about the accounting impact of the transaction is disclosed in Sealed Air Corporation's Form 10-Q for the quarterly period ended 30 September 2012 and in its third quarter 2012 earnings release, it added.
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