Amcor Sells India Flexibles Business for $55M

TL;DR

Amcor selling India biz for $55M, closing H2 FY25. Portfolio shuffle.

AI Summary

Amcor plc announced on May 29, 2024, that it entered into a definitive agreement to sell its flexible packaging business in India to Prudentia Investment Holdings Limited for approximately $55 million. The transaction is expected to close in the second half of fiscal year 2025, subject to customary closing conditions.

Why It Matters

This divestiture signals Amcor's strategic focus on optimizing its global portfolio and potentially streamlining operations by exiting a specific regional market.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a divestiture agreement with a clear transaction value and expected closing timeline.

Key Numbers

• $55 million — Sale Price (Amcor's sale of its India flexible packaging business.)

Key Players & Entities

• Amcor plc (company) — Seller
• Prudentia Investment Holdings Limited (company) — Buyer
• $55 million (dollar_amount) — Sale price of Indian flexible packaging business
• May 29, 2024 (date) — Date of the 8-K filing
• May 22, 2024 (date) — Date of the earliest event reported
• second half of fiscal year 2025 (date) — Expected closing period for the transaction

FAQ

Key Financial Figures

• $0.01 — registered Ordinary Shares, par value $0.01 per share AMCR New York Stock Excha

Filing Documents

• tm2414563d24_8k.htm (8-K) — 36KB
• tm2414563d24_ex1-1.htm (EX-1.1) — 336KB
• tm2414563d24_ex4-1.htm (EX-4.1) — 586KB
• tm2414563d24_ex4-2.htm (EX-4.2) — 93KB
• tm2414563d24_ex4-3.htm (EX-4.3) — 51KB
• tm2414563d24_ex5-1.htm (EX-5.1) — 21KB
• tm2414563d24_ex5-2.htm (EX-5.2) — 60KB
• tm2414563d24_ex5-3.htm (EX-5.3) — 29KB
• tm2414563d24_ex5-4.htm (EX-5.4) — 64KB
• tm2414563d24_ex5-5.htm (EX-5.5) — 71KB
• tm2414563d24_ex1-1sp3img001.jpg (GRAPHIC) — 17KB
• image_002.jpg (GRAPHIC) — 6KB
• tm2514563d24_ex5-2iimg006.jpg (GRAPHIC) — 6KB
• tm2514563d24_ex5-3img002.jpg (GRAPHIC) — 14KB
• image_005.jpg (GRAPHIC) — 2KB
• tm2414563d24_ex5-5img001.jpg (GRAPHIC) — 18KB
• tm2414563d24_ex5-4img001.jpg (GRAPHIC) — 4KB
• 0001104659-24-066047.txt ( ) — 1933KB
• amcr-20240522.xsd (EX-101.SCH) — 4KB
• amcr-20240522_def.xml (EX-101.DEF) — 26KB
• amcr-20240522_lab.xml (EX-101.LAB) — 38KB
• amcr-20240522_pre.xml (EX-101.PRE) — 25KB
• tm2414563d24_8k_htm.xml (XML) — 7KB

01

Item 8.01 Other Events. On May 22, 2024, Amcor UK Finance plc (the "Issuer"), Amcor plc ("Amcor"), Amcor Group Finance plc ("AGF"), Amcor Pty Ltd ("Amcor Australia"), Amcor Flexibles North America, Inc. ("AFNA") and Amcor Finance (USA), Inc. ("AFUI", and, together with Amcor, AGF, Amcor Australia and AFNA, the "Guarantors") entered into an Underwriting Agreement (the "Underwriting Agreement") with Citigroup Global Markets Limited, Wells Fargo Securities International Limited, BNP Paribas, HSBC Bank plc, Merrill Lynch International, Banco Bilbao Vizcaya Argentaria, S.A., ING Bank N.V. and J.P. Morgan Securities plc, as the several underwriters named therein, with respect to the offer and sale by the Issuer of 500,000,000 aggregate principal amount of its 3.950% Guaranteed Senior Notes due 2032 (the "Notes"), under the Registration Statement on Form S-3, as amended by Post-Effective Amendment No. 1 thereto (File No. 333-272449). Each Guarantor provided a full and unconditional guarantee of the Notes pursuant to the Indenture (as defined below) (the "Guarantee" and together with the Notes, the "Securities"). The Securities were issued pursuant to an Indenture (the "Indenture"), dated as of May 29, 2024, among the Issuer, the Guarantors, and Deutsche Bank Trust Company Americas, as trustee (the "Trustee"), together with the officer's certificate, dated May 29, 2024 (the "Officer's Certificate"), delivered pursuant to the Indenture establishing the terms of the Notes . Interest on the Notes will be payable in arrears on May 29 of each year, commencing on May 29, 2025 . The Notes will mature on May 29, 2032. The net proceeds from the sale of the Securities after deducting the underwriting discount and estimated offering expenses payable by Amcor are expected to be approximately 493 million. Amcor intends to use the net proceeds from the sale of the Securities to repay a portion of its commercial paper borrowings and the remainder, if any, for general corporate purpo

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated May 22, 2024, by and among Amcor UK Finance plc, Amcor plc, Amcor Group Finance plc, Amcor Pty Ltd, Amcor Flexibles North America, Inc. and Amcor Finance (USA), Inc. and Citigroup Global Markets Limited, Wells Fargo Securities International Limited, BNP Paribas, HSBC Bank plc, Merrill Lynch International, Banco Bilbao Vizcaya Argentaria, S.A., ING Bank N.V. and J.P. Morgan Securities plc. 4.1 Indenture, dated as of May 29, 2024, among Amcor UK Finance plc, Amcor plc, Amcor Finance (USA), Inc., Amcor Group Finance plc, Amcor Pty Ltd and Amcor Flexibles North America, Inc. and Deutsche Bank Trust Company Americas, as trustee (including the guarantees). 4.2 Officer's Certificate of Amcor Group Finance plc, dated May 29, 2024 . 4.3 Form of 3.950 % Guaranteed Senior Note due 20 32 . 5.1 Opinion of Perkins Coie LLP. 5.2 Opinion of Herbert Smith Freehills LLP (English law). 5.3 Opinion of Armstrong Teasdale LLP. 5.4 Opinion of Ogier (Jersey) LLP. 5.5 Opinion of Herbert Smith Freehills (Australian law). 23.1 Consent of Perkins Coie LLP (included in Exhibit 5.1 hereto). 23.2 Consent of Herbert Smith Freehills LLP (English law) (included in Exhibit 5.2 hereto). 23.3 Consent of Armstrong Teasdale LLP (included in Exhibit 5.3 hereto). 23.4 Consent of Ogier (Jersey) LLP (included in Exhibit 5.4 hereto). 23.5 Consent of Herbert Smith Freehills (Australian law) (included in Exhibit 5.5 hereto). 104 Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMCOR PLC By: /s/ Damien Clayton Name: Damien Clayton Title: Company Secretary Dated: May 29, 2024

View Full Filing

View this 8-K filing on SEC EDGAR