Australian packaging conglomerate Amcor Ltd. has recently replenished its funds for international expansion with the sale of its 50% stake in Kimberly-Clark Australia, paving the way for fresh acquisi…
Australian packaging conglomerate Amcor Ltd. has recently replenished its funds for international expansion with the sale of its 50% stake in Kimberly-Clark Australia, paving the way for fresh acquisitions in Europe and North America. Amcor will reap A$ 775 million from the divestment, to be staged within the next four years, boosting its financial firepower to around A$ 1 billion. Proceeds from the transaction are well above the asset“s book value of A$ 163 million as of 31 December 2000. This sale is the latest move in the Melbourne-based company“s increasingly aggressive bid to transform itself into a pure packaging company.