Orora (ASX:ORA) to sell its fibre business for $1.7b

Company News

by Rachael Jones

Orora (ASX:ORA) is selling its Australasian Fibre Business to a wholly owned subsidiary of Nippon Paper Industries Co.

They have entered into a binding agreement for an enterprise value of $1.7 billion.

The estimated net gain after costs and tax is $225 million, which will be recognised as a Significant Item.

The Orora Group will retain the market leading Beverage business, which manufactures 65 per cent of Australia’s wine bottles.

Shares in Orora (ASX:ORA) are trading 17.22 per cent higher at $3.20.


Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.