Industry News, Mergers and Acquisitions, Printers News

O-I Glass Completes Sale of ANZ Business Unit

O-I ANZ generated sales of approximately AUD 754 million.

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By: Anthony Locicero

Copy editor, New York Post

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 $677 million.    Approximately 95% of proceeds are being received at time of closing and the remaining balance will be paid within 12 months of closing wi...

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