August 28, 2018 / 6:30 AM / 3 months ago

UK's RPC Group to sell Letica's food-packaging business for $95 mln

Aug 28 (Reuters) - Europe’s biggest plastics packager RPC Group Plc is selling Letica Corp’s food-service packaging business to Graphic Packaging for $95 million on a debt-free basis.

Shares of UK-based RPC fell sharply last month after the company said pressure from investors was preventing it from pursuing some growth opportunities but did not deliver on some expectations of share buybacks by the company. (Reporting by Muvija M in Bengaluru; Editing by Sai Sachin Ravikumar)

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