Graeme Hart agrees to sell packaging corporation

Robyn and Graeme Hart in 2019. (Image: Norrie Montgomery)

Wed, 11 Dec 2024

One of New Zealand’s wealthiest men, Graeme Hart, has agreed to sell his packaging corporation Pactiv Evergreen, according to an announcement overnight.Nasdaq-listed Pactiv said it had agreed on a merger with Novolex in a US$6.7 billion (NZ$11.55b) deal.The all-cash transaction is expected to close in mid-2025 after regulatory approvals.Private equity firm Apollo controls Novolex, while Hart had held more than 75% of Pactiv.He had spun it out of Reynolds Group Holdings and listed it in September 2020.NZ Herald reported in March that the c...

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