Colombians Prep Packaging Spinoff

Colombia’s Carvajal plans to launch an IPO for its Carvajal Empaques unit. The maker of containers and packaging materials plans to sell 40m shares, or about 36% of itself, and will define the price prior to the launch, which is expected later this week, according to sources familiar with the process. A transaction of $100m-equivalent is expected. It plans to use the proceeds to repay debt. Corredores Asociados is managing.