Ball aims to raise $650m to fund AB InBev purchase

Ball announced the $577m deal for three beverage can facilities and one can end plant on 1 July. It expects to complete the deal in late 2009 or early 2010 subject to regulatory approval.

The Broomfield, Colorado-based firm yesterday announced the public offering of senior notes due for repayment in 2016 and 2019, but said the exact terms would depend on market conditions and other factors.

In a statement, Ball the offering would go ahead even if the AB InBev deal did not go through.

“If the acquisition is not completed, Ball expects to use the net proceeds from the offering for general corporate purposes, including other potential acquisitions, the refinancing or repayment of debt, working capital, share repurchases or capital expenditures,” it said.

BALL-AB INBEV PURCHASE
Cost $577m
Beverage can sites Rome, Georgia; Colombus, Ohio; Fort Atkinson, Wisconsin
Can end site Gainsville, Florida
Total staff 635
Total annual output 10bn cans and easy-open ends
Predicted annual revenues $774m

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