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Brambles completes $115M sale of CHEP Recycled

Brambles Ltd. completed the sale of its unit CHEP Recycled to Grey Mountain Partners LLC for $115 million.

CHEP recycles whitewood pallets in North America. The sale was completed after necessary regulatory approvals were received Feb. 14.

The sale of the business, which Brambles called noncore, will reflect on the seller's full-year results for fiscal year 2018 in August.