Packaging converter Rexam is to sell its Personal Care business for US$709 million (£452m).
The business is to be sold in two parts: the Cosmetics, Toiletries and Household care products business (CTH) to an affiliate of private equity firm Sun Capital Partners for $459m in cash; and the High Barrier Food packaging business (HBF) to a subsidiary of Silgan Holdings for $250m in cash.
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