Orora Limited (ASX : ORA) entered into arrangements for the acquisition of Saverglass SAS from The Carlyle Group Inc. and others for an enterprise value of AUD 2.2 billion.

Orora Limited (ASX : ORA) entered into arrangements for the acquisition of Saverglass SAS from The Carlyle Group Inc. and others for an enterprise value of AUD 2.2 billion on September 5, 2023. Orora said it will fund this transaction via a fully underwritten equity raising of AUD 1.34 billion, consisting of AUD 450 million institutional placement and AUD 895 million 1-for-2.55 accelerated non-renounceable pro rata entitlement offer, combined with AUD 875 million of debt financing. Jean-Marc Arrambourg will lead Saverglass team.

The deal is pending for regulatory approvals. Orora is expecting this transaction to complete in the last quarter of CY2023. The transaction is projected to be mid-single digit earnings per share accretive in the first full financial year of ownership Orora noted.