Pactiv Evergreen Inc., a packaging maker that is preparing for an initial public offering, said it identified practices in a China unit that may have violated the Foreign Corrupt Practices Act, a U.S. anti-bribery law.
Pactiv, in an amended prospectus filed Tuesday with the U.S. Securities and Exchange Commission, said its Evergreen Packaging Shanghai business occasionally gave gift cards of “relatively minor monetary values” to Chinese regulators or employees of state-owned companies over several years.
The Lake Forest, Ill., company added that the unit, part of its beverage merchandising segment, may have also violated the FCPA by hiring external consultants to interact with government regulators in China “to avoid potential adverse action by those regulators.”
The original full article can be found at wsj.com
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