WASHINGTON (dpa-AFX) - Crown Holdings, Inc. (CCK) announced Wednesday it has completed the strategic divestiture of the approximate 20% stake it retained in its Switzerland-based European Tinplate business Eviosys to Sonoco Products Co. (SON) and will receive net cash proceeds of about $300 million from the stake sale. It sold the rest of the European tinplate business in 2021.
Commenting on the transaction, Kevin Clothier, Crown's Senior Vice President and Chief Financial Officer, stated, 'This completes the strategic divestiture of our European Tinplate business.
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