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Article: Ball Corporation to Sell Interest in Ball-Foster Glass Container Co.
- Article from:
- PR Newswire
- Article date:
- September 16, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MUNCIE, Ind., Sept. 16 /PRNewswire/ -- Ball Corporation (NYSE: BLL) announced today that it will sell its 42-percent interest in Ball-Foster Glass Container Co., L.L.C. to Compagnie de Saint-Gobain for approximately $190 million.
A definitive agreement has been reached for the transaction, which, subject to regulatory filings, is expected to close before the end of the year. Ball will record a gain on the sale.
Ball and Saint-Gobain established Ball-Foster as a new joint-venture company in 1995 to acquire the glass manufacturing operations of both Ball Glass Container Corporation and Foster-Forbes, then a unit of Pechiney, S.A. Ball retained a 42-percent ...