Sonoco Products SON -1.52%decrease; red down pointing triangle said it is buying Eviosys from KPS Capital Partners for around $3.9 billion on a cash-free, debt-free basis, and that it intends to divest its ThermoSafe business as well as other businesses.

Sonoco said Monday that it expects to achieve at least $1 billion of total proceeds from divestitures in the next 12 to 18 months.

Source: REUTER