Huhtamaki's subsidiary in India has recently consolidated five manufacturing sites into larger local units. Following the reorganization, the company has sold its real estate in Thane, India, from where a manufacturing facility and offices have been transferred.

The real estate was sold to Phoenix Group, a large real estate developer, for EUR 47 million. Huhtamaki will book a gain of approximately EUR 44 million in the fourth quarter of 2023 and it will be treated as an item affecting comparability.

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