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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): SEPTEMBER 28, 2000
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PACKAGING RESOURCES INCORPORATED
(Exact name of Registrant as specified in its charter)
DELAWARE 333-05885 36-3321568
(State or other jurisdiction (Commission (IRS Employer Number)
of Identification incorporation) File Number)
ONE CONWAY PARK
100 FIELD DRIVE, SUITE 300
LAKE FOREST, ILLINOIS 60045
(Address of principal executive offices) (Zip Code)
(847) 295-6100
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
The previously reported agreement with Sweetheart Cup Company Inc.
and Mr. Dennis Mehiel, its Chairman and principal stockholder, relating to a
proposed sale of capital stock of Packaging Resources Group, Inc. ("Group")
has been terminated.
A letter of intent ("Letter") has been entered into with Van Leer
Holding Inc., a subsidiary of Huhtamaki Van Leer Oyj, a Finnish company,
relating to a proposed sale of capital stock of Packaging Resources
Incorporated ("PRI") for a cash purchase price of $185 million. The Letter
contemplates that PRI will have no debt for borrowed money at the closing.
Completion of the transaction will be subject to execution of definitive
documentation and certain other conditions, including consent of the holders
of the outstanding indebtedness of PRI and its parent, Group. There can be
no assurance as to whether or when the proposed transaction will be completed.
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SIGNATURES:
Pursuant to the requirements of the securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
PACKAGING RESOURCES INCORPORATED, a Delaware corporation
Date: September 29, 2000
By:___________________________
Name: Jerry J. Corirossi
Title: Executive Vice President, Finance and Administration
Chief Financial Officer and duly authorized officer
