Sonoco Products Company (SON) has announced the commencement of a strategic review for its Thermoformed & Flexible Packaging (TFP) division, part of its Consumer Packaging segment. The company aims to conclude this review by the fourth quarter of 2024.In light of this expanded divestiture strategy, Sonoco has revised its financing approach for the upcoming acquisition of Eviosys. The acquisition will now be funded through a mix of prepayable debt, longer-term bond financing, and existing cash reserves.With the anticipated revenue from divestitures and the cash flow from operations, Sonoco expects substantial debt reduction, which will lower net leverage beyond previous projections within 24 months post-acquisition. Consequently, Sonoco now plans not to issue equity to finance the Eviosys acquisition.The material has been provided by InstaForex Company – www.instaforex.com
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