Matthews international announces sale of investment

Pittsburgh, pa., june 29, 2020 (globe newswire) -- matthews international corporation (nasdaq gsm: matw) today announced the sale, on june 26, 2020, of its noncontrolling ownership interest in a pet cremation services business.  the company sold its ownership interest for a sales price of $57.2 million, consisting of $42.2 million cash and $15.0 million preferred stock.  matthews international intends to apply the cash proceeds from the sale to debt repayment.
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