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CCL Industries Signs Agreement to Acquire 100% of Middle East Venture
TORONTO, ON / ACCESSWIRE / May 13, 2024 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B) ("the Compa...
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"CCL Industries Signs Agreement to Acquire 100% of Middle East VentureTORONTO, ON / ACCESSWIRE / May 13, 2024 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B) (\"the Company\"), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has signed a binding agreement to acquire the remaining 50% equity interest in its Middle East joint venture, Pacman-CCL (\"PCCL\"), from its partner, Albwardy Investment LLC headquartered in Dubai. PCCL operates manufacturing facilities in the United Arab Emirates, Oman, Egypt, Saudi Arabia and Pakistan. The transaction is expected to close this summer, subject to local regulatory procedures in the jurisdictions. Financial highlights of the transaction will be announced upon closing.Forward-looking StatementsThis press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as \"forward-looking statements\"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements are typically identified by the words \"believes,\" \"expects,\" \"anticipates,\" \"estimates,\" \"intends,\" \"plans\" or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding the expectation to close the acquisition of PCCL within three months.Forward-looking statements are not guarantees of future performance. They involve known and unknown risks and uncertainties relating to future events and conditions including, but not limited to, general economic and geopolitical conditions; currency exchange rates; interest rates and credit availability; technological change; changes in government regulations; risks associated with operating and product hazards; and the Company's ability to attract and retain qualified employees. Do not unduly rely on forward-looking statements as the Company's actual results could differ materially from those a...