Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Australia’s Orora confirms talks to buy French glass bottles maker Saverglass

(Reuters) – Australian packaging firm Orora Ltd confirmed on Wednesday it was in advanced discussions regarding a potential acquisition of French high-end glass bottles manufacturer Saverglass SAS.

“The negotiations will take some days to finalise due to a number of factors including the size and global nature of the target business,” Orora said in a statement, while requesting a voluntary suspension of trading in its shares on the Australian bourse.

Earlier this week, the Australian Financial Review (AFR) reported that Orora was in late-stage negotiations to acquire Saverglass, and that Citi and Macquarie Capital are advising the company on a A$1 billion ($646.5 million) capital raising to fund the deal.

Shares of Orora were placed on a trading halt on Monday. The voluntary suspension would remain in place until earlier than commencement of trading on Sept. 1, or Friday, or when Orora requests for the voluntary suspension otherwise be lifted, the company said.

Established more than a century ago in France, Saverglass manufactures and decorates high-end glass bottles for wines and spirits, and recorded total sales of 786 million euros ($854.07 million) in fiscal 2022.

($1 = 1.5468 Australian dollars)

($1 = 0.9203 euros)

 

(Reporting by Himanshi Akhand in Bengaluru; Additional reporting by Sameer Manekar; Editing by Rashmi Aich)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts