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Wed, Nov 25, 2020 14:04
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Management Side
Amcor: Sale of investment in AMVIG Holdings Limited
ZURICH (News release) -- Amcor plc announced it has entered into a binding agreement with New Prospect Capital for the sale of its 47.6% equity accounted investment in AMVIG Holdings Limited (AMVIG) for cash consideration of US$124 million. AMVIG is listed on the Hong Kong Stock Exchange and the transaction, by way of share sale is expected to close in the coming days.

AMVIG is a Chinese tobacco packager.

For the year ended 30 June 2020, Adjusted EBIT for the Amcor Group included a US$12 million contribution from the investment in AMVIG and cash flow from operations included US$10 million related to the receipt of annual dividends.

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