Austria's MM Group has agreed to sell 70% of its packaging business to US investment firm KPS Capital Partners for $2.69 billion (2.4 billion euros), including debt, Reuters reports. The MM Group will retain 30% of the division, which will continue to operate as an independent company. The deal is expected to close in the first half of 2027. The proceeds of up to 1.9 billion euros are planned to be used for debt repayment, development and payments to shareholders in the amount of up to 600 million euros.

Austria's MM Group has agreed to sell 70% of its packaging business to US investment firm KPS Capital Partners for $2.69 billion (2.4 billion euros), including debt, Reuters reports. The MM Group will retain 30% of the division, which will continue to operate as an independent company. The deal is expected to close in the first half of 2027. The proceeds of up to 1.9 billion euros are planned to be used for debt repayment, development and payments to shareholders in the amount of up to 600 million euros.