DJ Ball Selling China Facilities for $225 Million
By Allison Prang
Ball Corp. (BLL) said Thursday that it is selling its metal beverage packaging facilities for about $225 million to Chinese metal-packaging company ORG Technology Co. Ltd.
The sale includes Ball's China plants in Qingdao, Foshan, Hubei and Beijing. It also includes relevant contracts and other assets, Ball said.
Ball said there is a possible additional consideration over the next several years of $50 million to $75 million tied to relocating a facility.
Ball plans to invest about $50 million into shares of ORG. That investment will come mainly from the proceeds from the relocation-related consideration, Ball said. Ball is also going to license technology to the acquirer.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
December 13, 2018 06:51 ET (11:51 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
