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Constantia Flexibles cancels IPO

FRANKFURT, Nov 26 (Reuters) - Austrian packaging group Constantia Flexibles has cancelled its initial public offering planned for Wednesday, the company said on Tuesday.

"A satisfactory completion of the transaction including a healthy aftermarket development could not be ensured," the group said in a statement.

People familiar with the transaction told Reuters earlier that Constantia was considering putting its flotation plans on ice. It had planned to raise up to 821 million euros from the IPO. (Reporting by Arno Schuetze)