Coveris’ Americas business sold to TC Transcontinental for $1.32bn

Coveris is to sell its Americas packaging business to TC Transcontinental for $1.32 billion as part of a previously announced plan to focus on its European operations. The proceeds of the sale are expected to repay debt. Coveris Americas generated sales and adjusted EBITDA for the year ended December 31, 2017 of $966 million and…