WestRock Company (NYSE:WRK) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01. Completion of Acquisition or Disposition of Assets.
On April 6, 2017, WestRock Company (“WestRock”) completed the previously announced sale of its home, health and beauty business, to the terms of a purchase agreement (the “Purchase Agreement”), dated January 23, 2017, by and among WestRock and WestRock MWV, LLC (“Seller”) and Silgan Holdings LLC and certain of its affiliates (“Buyers”). At the closing, Buyers acquired from Seller all of the issued and outstanding shares of capital stock or other equity interests of WestRock Dispensing Systems Hemer GmbH, WestRock Dispensing Systems Milano S.r.l, WestRock Dispensing Systems Vicenza S.r.l, WestRock Dispensing Systems R&D Netherlands B.V., WestRock Dispensing Systems Barcelona S.L., Mead Packaging International, LLC and WestRock Slatersville, LLC and their respective subsidiaries for a purchase price of $1,025,000,000 in cash, subject to post-closing adjustments.
The information set forth in item 1.01 of the current report on Form 8-K filed by WestRock with the Securities and Exchange Commission on January 23, 2017 is incorporated by reference into this item.
On April 6, 2017, WestRock issued a press release announcing the closing of the transaction. A copy of the press release is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release dated April 6, 2017
About WestRock Company (NYSE:WRK)
WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment consists of its containerboard mill and corrugated packaging operations, as well as its recycling operations. The Consumer Packaging segment consists of consumer mills, folding carton, beverage, merchandising displays, home, health and beauty dispensing, and partition operations. The Land and Development segment is engaged in the development and sale of real estate primarily in Charleston, South Carolina. As of September 30, 2016, the Company owned approximately 61,000 acres of development landholdings primarily in the Charleston, South Carolina region. The Corrugated Packaging segment produces containerboard and high-graphics preprinted linerboard. WestRock Company (NYSE:WRK) Recent Trading Information
WestRock Company (NYSE:WRK) closed its last trading session up +0.27 at 51.87 with 1,231,541 shares trading hands.
