Nip Impressions logo
Fri, Aug 7, 2020 05:47
Visitor
Home
Click here for Pulp & Paper Radio International
Subscription Central
Must reads for pulp and paper industry professionals
Search
My Profile
Login
Logout
Management Side
O-I Glass Completes the Sale of ANZ Business Unit to Visy
AUSTRALIA (News release) -- O-I Glass, Inc. announced it completed the sale of its Australia and New Zealand (ANZ) business unit to Visy Industries. Gross proceeds approximated AUD $947 million including a related sale-leaseback agreement which approximated AUD $214 million. Based on recent currency exchange rates, gross proceeds represented approximately USD $677 million. Approximately 95 percent of proceeds are being received at time of closing and the remaining balance will be paid within 12 months of closing without conditions precedent. Net proceeds will be principally used to reduce debt.

O-I ANZ is the largest manufacturer of glass bottles and containers in Australia and New Zealand and the business generated sales of approximately AUD $754 million and EBITDA of approximately AUD $124 million in 2019.

This divestiture substantially completes an in-depth strategic review of the company's global business portfolio and operating structure.

The highest value mill directory in the US at the lowest price $34.20. Click for Instructional Video.


Printer-friendly format

 





Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: