Orora set for worst week on discounted capital to fund Saverglass buyout

Orora

08/09/2023 03:16

** Shares of Orora  ORA.AX  among the top loser on the
benchmark ASX 200, slipping as much as 4.3% to A$2.66
    ** Packaging co drops nearly 18% for the week, on track to
post its worst week ever, if losses hold
    ** ORA says it will acquire French glass bottle maker
Saverglass from Carlyle Group  CG.O  for A$2.16 bln ($1.38 bln)
    ** Adds it will raise A$1.35 bln at an issue price of A$2.7
per share to fund the acquisition
    ** Stock up nearly 3% this year, as of last close 
    



($1 = 1.5659 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))