Ball Corporation Completes Sale of Russian Beverage Packaging Business to Arnest Group for $530 Million
Ball Corporation has finalized the sale of its beverage packaging business in Russia to Arnest Group for $530 million. This decision follows Ball's earlier announcement to exit the Russian market due to geopolitical tensions. All necessary approvals for the transaction have been secured, ensuring immediate completion without conditions. The sale is not expected to impact Ball's operations outside Russia. The company will hold an Investor Day Management Briefing on September 22, 2022.
- Completed the sale of its Russian beverage packaging business for $530 million.
- Transaction was finalized without any conditions and all necessary approvals were obtained.
- The sale is expected to have no impact on Ball's businesses outside of Russia.
- None.
WESTMINSTER, Colo., Sept. 21, 2022 /PRNewswire/ -- Following the March, 2022 decision to divest from the Russian market, Ball Corporation (NYSE: BALL) today announced that it has completed the sale of its beverage packaging business in Russia to Arnest Group for
"This decision is the result of many months of consideration, delivering a solution that best secures the future of Ball's colleagues and assets in Russia. We believe this is a sound outcome for Ball in these geo-political circumstances," said Dan Fisher, president and CEO Ball Corporation.
Arnest is the largest manufacturer of perfume, cosmetic and household products in aerosol packaging in Russia and Ball's Aluminum Aerosol division has had the opportunity to work with the world class team at Arnest in the past. The closing of this transaction is not subject to any conditions, and all required approvals have been obtained. The sale is not expected to impact Ball's businesses outside of Russia.
Ball will host its Biennial Investor Day Management Briefing, at 9:00 AM Mountain time on September 22, 2022. To listen live to the event use the below link:
https://ballinvestorday.gcs-web.com/register
About Ball Corporation
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of
Forward-Looking Statements
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SOURCE Ball Corporation
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