Pactiv Evergreen (PTVE) has shared an update.
Pactiv Evergreen Inc. is undergoing significant restructuring, particularly in its Beverage Merchandising sector, and has agreed to sell assets from two facilities to Suzano S.A. for $110 million, a deal set to close in late 2024. This transaction will lead to a substantial non-cash impairment charge for Pactiv Evergreen, estimated between $320 million and $340 million, but is not expected to incur future cash expenses. This move is part of a larger restructuring strategy that may total charges up to $830 million, aimed at repositioning the company’s operations for better efficiency and performance.
For a thorough assessment of PTVE stock, go to TipRanks’ Stock Analysis page.
