The Swedish Rausing family – which made a fortune in Tetra Pak – sold more than $1 billion worth of U.S. stocks in the second quarter, joining a group of wealthy investors reducing their exposure to the world’s largest stock market.
The sale corresponds to approximately one-fifth of the Rausing family’s holdings in US stocks.
The US exit included the sale of a 15% stake in colour and flavour maker Sensient Technologies for $660 million. But it sold more than 100 other US holdings – including Abbott Laboratories and Wells Fargo – worth more than $500 million.
At the end of June, the Rausing family owned shares worth around $17 billion, including in Alfa Laval, Linde, EQT, International Flavors & Fragrances and Givaudan.
Source: swedenherald.com
International Paper (IP) is in early-stage talks with bidders over a potential sale of its EMEA packaging business. The company is continuing preparations to spin off the unit, which combines its regional operations with DS Smith. The review comes as IP faces soft packaging demand linked to weaker consumer spending and housing activity.
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