secwatch.observer — SEC 8-K summary
======================================

Issuer:     Pactiv Evergreen Inc. (—)
CIK:        0001527508
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0000950170-24-083268
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 2.05, 2.06, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pactiv Evergreen signs $110M asset sale of Pine Bluff and Waynesville to Suzano, expects $320M-$340M impairment
--------------------------------------------------------------------------------

- Sale price of $110 million in cash for Pine Bluff paper mill and Waynesville extrusion facility to Suzano S.A., closing expected Q4 2024.
- Non-cash impairment charge of approximately $320 million to $340 million to be recorded in Q3 2024.
- Suzano will offer employment to current employees at both facilities; long-term supply agreement for liquid packaging board to Pactiv Evergreen.
- Restructuring total charges revised to $810M-$830M ($650M-$670M non-cash) as part of Beverage Merchandising Restructuring.
- Agreement approved by Board on July 12, 2024; concludes strategic alternatives review for these facilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527508/000095017024083268/0000950170-24-083268-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527508/000095017024083268/ptve-20240712.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-083268

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer