(Adds details on acquisition in paragraphs 2-5)
Sept 5 (Reuters) - Australian packaging firm Orora Ltd (ORA) said on Tuesday it will acquire French high-end glass bottle manufacturer Saverglass from private equity firm Carlyle Group CG.O for an enterprise value of A$2.16 billion ($1.40 billion).
It said in a statement it will start a capital raising of A$1.35 billion to pay for the acquisition.
Orora will fund the acquisition via an A$450 million institutional placement, an A$895 million 1-for-2.55 accelerated non-renounceable pro rata entitlement offer, as well as A$875 million of debt financing, it said in a statement.
Shares of the company will not recommence trading on the ASX until Orora announces the results of the institutional entitlement offer and placement, Orora said.
They were placed on a trading halt on Aug. 28 and later remained under voluntary suspension as the company had to delay an official buyout announcement.
($1 = 1.5477 Australian dollars) (([email protected]; Twitter: https://twitter.com/sameer_manekar))
News: ORA UPDATE 1-Australia's Orora makes $1.4 bln play for France-based Saverglass
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Last
$2.58 |
Change
-0.020(0.77%) |
Mkt cap ! $3.466B | |||
| Open | High | Low | Value | Volume |
| $2.60 | $2.61 | $2.57 | $3.416M | 1.322M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 66378 | $2.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.60 | 37181 | 3 |
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