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Loews Corporation Adds GIC as Partner in its Packaging Subsidiary

Loews Corporation Adds GIC as Partner in its Packaging Subsidiary
GIC to acquire 47% stake in Altium Packaging valuing the company at US$2 billion
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NEW YORK, March 12, 2021 /PRNewswire/ Loews Corporation (NYSE: L) announced today that it has entered into a definitive agreement to sell 47% of Altium Packaging, a leading rigid plastic packaging and recycled resin company, to GIC, Singapore s sovereign wealth fund. The transaction is expected to close in the next 30 days.
We are pleased to welcome GIC as a shareholder of Altium Packaging. GIC is a well-established, long-term investor with a track record of success. Having Loews and GIC – two world-class institutions – as our partners will be invaluable as we continue to pursue our growth strategy and seek accretive acquisitions that add further scale and end-market diversification, said Sean Fallmann, President & CEO of Altium Packaging. ....

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Loews Corporation Adds GIC as Partner in its Packaging Subsidiary

Loews Corporation Adds GIC as Partner in its Packaging Subsidiary
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