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Sealed Air Completes Sale of Diversey Japan

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Sealed Air Corporation (NYSE: SEE) announced today that it has completed
the previously announced sale of Diversey G.K. (“Diversey Japan”) (an
indirect subsidiary of Diversey, Inc.) to an investment vehicle of The
Carlyle Group (“Carlyle”) for gross proceeds of ¥30 billion (USD
equivalent of approximately 373 million). Additionally, the Company
intends to use the approximately $300 million in net after-tax cash
proceeds generated from the sale to prepay a portion of its term
loans currently outstanding under its senior secured credit facilities.

As of September 30, 2012, Diversey Japan was classified as a
discontinued operation. Additional detail about the accounting impact of
the transaction is disclosed in the Company's Form 10-Q for the
quarterly period ended September 30, 2012 and in

See full press release

Posted-In: News Guidance Asset Sales Management Stock Split M&A Global

 

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