(RTTNews) - TC Transcontinental (TCL.A, TCL.B) on Monday said it has agreed to sell all shares of its Packaging Sector to ProAmpac for approximately $2.10 billion, implying a $2.22 billion enterprise value. Closing of the deal is expected in early 2026.
The company is planning to completely pull out of the packaging industry, but they'll need shareholder approval first. Once the deal goes through, TC Transcontinental aims to give investors around $20.00 per share.
The executives mentioned that this sale is beneficial, as it not only provides good value but also allows the Packaging unit to team up with a buyer that shares their culture. Plus, it lets TC Transcontinental shift its focus back to Retail Services & Printing and Educational Publishing.
TCLAF is currently trading at $17.00, up $2.62 or 18.22 percent on the OTC Markets.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
