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July 17 (Reuters) - Wendel:
* Wendel welcomes today’s announcement by Constantia Flexibles, one of the world’s leaders in flexible packaging, that it has signed an agreement to sell its Labels business to Multi-Color Corporation, for an enterprise value of approximatley €1.15 billion (1.3 billion USD).
* Majority of the transaction is payable in cash, while Constantia Flexibles will hold a 16.6% equity holding in Multi-Color, thereby becoming its largest shareholder
* Transaction will make a positive contribution to long-term value creation at Constantia Flexibles, which is 60.5% owned by Wendel, its majority shareholder