Australian glass manufacturer Orora wants to buy French group Saverglass.
The Australian glass packaging group confirmed it is in advanced discussions regarding a potential acquisition of the French high-end glass bottles manufacturer.
"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.
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 September 1, or Friday, or when Orora requests for the voluntary suspension otherwise be lifted, the company said.
Saverglass manufactures and decorates high-end glass bottles for wines and spirits, and recorded total sales of €786 million last year.
It has glass manufacturing sites in France, Belgium, the UAE and Mexico. It was founded in 1897 in the historic Bresle glassmaking valley in northern France.
Saverglass President Jean-Marc Arrambourg spoke to Glass International in April 2023 about its recent investment at its Mexican site.
Orora operates a glass manufacturing facility in Gawler, South Australia state.
05.09.2023, Orora
Les informations publiées sur notre portail sont soumises au droit d´auteur et appartiennent à la société en question resp. à la source des nouvelles. Tous les droits sont réservés expressément. N´importe quel utilisateur qui accède à un tel matériel peut faire ainsi seulement pour sa propre utilisation personnelle, et l´usage d´un tel matériel est au risque unique de l´utilisateur. La redistribution ou toute autre exploitation commerciale d´un tel matériel de nouvelles est expressément interdite. Là où un tel matériel de nouvelles est fourni par un tiers, chaque utilisateur accepte d´observer et être lié par les limites spécifiques de l´utilisation s´appliquant à un tel matériel de nouvelles. Glass Global ne représente ou n´approuve pas l´exactitude ou la fiabilité d´aucune des informations citées dans les nouvelles ou pages externes auxquelles on se réfère ici.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.