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Sealed Air Corp Completes Sale of Diversey Japan


Wednesday, 14 Nov 2012 10:06pm EST 

Sealed Air Corp announced 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 JPY30 billion (equivalent of approximately USD373 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‚Äôs Form 10-Q for the quarterly period ended September 30, 2012 and in its third quarter 2012 earnings release. 

Company Quote

33.34
0.75 +2.30%
21 Oct 2014