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Packaging company Crown Holdings to buy Signode in $3.91 billion deal

Reuters

(Reuters) - Consumer packaging company Crown Holdings Inc (CCK.N) said on Tuesday it would buy Signode Industrial Group Holdings (Bermuda) Ltd, which specializes in transit packaging, from Carlyle Group LP (CG.O) in a deal valued at $3.91 billion (£3.92 billion).

Crown Holding said the acquisition, expected to close during the first quarter of 2018, is expected to will significantly increase its free cash flow.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Savio D'Souza)