Amcor exploring JV for North American drinks packaging unit - report

[Amcor - Corporate Headquarters]
Rafael_Wiedenmeier

* Amcor Plc (NYSE:AMCR [https://seekingalpha.com/symbol/AMCR]) is evaluating a joint venture for its $1 billion North American drinks packaging unit as it eventually looks to exit the business.
* Amcor, which is being advised by UBS and Goldman Sachs, is looking at a potential transaction to sell down part of the unit initially, with the plan to sell the remainder to the party at a later stage, according to a report in The Australian [https://www.theaustralian.com.au/business%2Fdataroom%2Famcor-flags-last-drinks-for-north-american-packaging-unit%2Fnews-story%2F640d5a6872df6f6d98891f341db5ebde?amp&nk=fdfe3075f3c6755946647d4c0c4fd5cf-1759866236] on Tuesday, which cited unidentified sources.
* As part of the deal, the business would be spun into a separate structure that would be jointly owned by Amcor, according to the report. Sources suggest that one of Amcor's largest competitors could buy part of the business.

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