Orora Ltd. (AU:ORA) has released an update.
Orora Ltd has sold its North American packaging solutions division to Veritiv Corporation for A$1.775 billion, a move that aligns with Orora’s strategy to focus on its beverage packaging business and provides the firm with a robust balance sheet for future growth. The sale, which is expected to net Orora A$1.687 billion after taxes and costs, will enable capital investment in expanding can production capacity by over 30% at the Rocklea, Queensland facility. This strategic divestiture is anticipated to deliver value to Orora’s shareholders while enhancing the company’s financial flexibility.
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