Swire Pacific Agrees To Sell Crown Can Stakes For US$150 Million
September 07 2010 - 5:16AM
Dow Jones News
Blue-chip conglomerate Swire Pacific Ltd. (0019.HK) said Tuesday
it agreed to sell its holdings in two beverage-can joint ventures
to its partner in the ventures, Crown Holdings Inc. (CCK), for a
total of US$150 million.
Swire said in a statement it will use the proceeds from the sale
as general working capital.
One of the ventures, Crown Beverage Cans Hong Kong Ltd.,
manufactures aluminium beverage cans in China and Vietnam. The
other venture, Crown Swire Investment Co.
-By Yvonne Lee, Dow Jones Newswires; 852-2802-7002;
yvonne.lee@dowjones.com
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