Reynolds Group is considering the sale of Evergreen Packaging business, SIG Holdings and Closure Systems International (CSI).
New Zealand entrepreneur Graeme Hart's Reynolds has confirmed that it has put these businesses under review.
Graeme Hart intends to sell these assets, which worth about $7.9bn, to reduce the debt of about $18bn, as well as to go for initial public offer for his remaining businesses.
Reynolds in a filing to the US Securities and Exchange Commission was quoted by The Sydney morning Herald as saying ''Both reviews may result in a decision to sell some or all of those businesses, although no decision has been made at this time to do so.''
Reynolds has also hired Goldman Sachs Group to explore alternatives for CSI, comprising sale as one option.
In the last 10 years, Hart has invested around $20bn on acquisitions. The acquisitions include US plastics maker Graham in 2011 for $4.5bn, and food service packager Pactiv in 2010 for $6bn.
The acquisitions also include Reynolds consumer packaging in 2008 for $2.7bn, Evergreen in 2006 for $500bn and SIG in 2007 for $2.3bn.
CSI produces plastic and aluminum closures and also provides high-speed capping equipment and related technical support.
Evergreen Packaging is involved in producing carton packaging for juices and milk, paperboard and paper, while SIG manufactures aseptic beverage cartons and related filling equipment.
