Form 4: Packaging Finance Ltd Disposes of Pactiv Evergreen Inc. Shares Following Merger Agreement
SEC Form 4
Packaging Finance Ltd, a 10% owner of Pactiv Evergreen Inc., disposed of its shares following a merger agreement where each share was converted into $18.00 in cash.
Summary
- Packaging Finance Ltd, a 10% owner of Pactiv Evergreen Inc. (PTVE), has reported a change in beneficial ownership.
- On April 1, 2025, Packaging Finance Ltd disposed of 137,979,428 shares of PTVE common stock.
- This disposal was pursuant to an Agreement and Plan of Merger dated December 9, 2024, between Pactiv, Novolex Holdings, LLC, and Alpha Lion Sub, Inc.
- At the effective time of the merger, each share of Pactiv common stock held by Packaging Finance Ltd was converted into the right to receive $18.00 per share in cash.
- Packaging Finance Limited is a wholly-owned subsidiary of Packaging Holdings Limited, which is wholly-owned by Mr. Graeme Hart.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as the transaction represents a successful exit for Packaging Finance Ltd, realizing a cash value for their investment in Pactiv Evergreen Inc.
Positives
- The merger provided Packaging Finance Ltd with a cash payment of $18.00 per share for its Pactiv Evergreen Inc. holdings.
Future Outlook
The document does not contain any specific forward-looking statements regarding Packaging Finance Ltd's future activities beyond the reported transaction.
Industry Context
This announcement reflects a merger and acquisition event within the packaging industry, where Pactiv Evergreen Inc. was acquired, leading to a change in ownership and the disposal of shares by a major shareholder.
Stakeholder Impact
- Shareholders of Pactiv Evergreen Inc. received $18.00 per share in cash as a result of the merger.
- The merger may impact employees and customers of Pactiv Evergreen Inc., depending on the integration plans of Novolex Holdings, LLC.
Key Dates
| Date | Description |
|---|---|
| 2024-12-09 | Date of the Agreement and Plan of Merger between Pactiv, Novolex Holdings, LLC, and Alpha Lion Sub, Inc. |
| 2025-04-01 | Date of the transaction where Packaging Finance Ltd disposed of Pactiv Evergreen Inc. shares. |
Keywords
Pactiv Evergreen Inc., Packaging Finance Ltd, Merger Agreement, Beneficial Ownership, Share Disposal, Novolex Holdings, Alpha Lion Sub, Graeme Hart
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