Economy & Economic Development  October 27, 2015

Ball Corp. acquires remaining interest in Brazilian joint venture

BROOMFIELD —Ball Corp. announced Tuesday that it will acquire the minority interest owned by its joint-venture partners in Latapack-Ball that supplies cans and ends to the Brazilian market.

Ball Corp. (NYSE: BLL) said it will acquire the remaining 39.9 percent minority interest in the Latapack-Ball beverage-can business in exchange for the issuance of 6 million Ball common shares, giving the Broomfield-based company full ownership of Latapack-Ball. Ball’s shares were trading at $66.90 Tuesday, which would give the deal an estimated value of $401 million.

The joint venture was established in 1995. The operation supplies cans and ends to the Brazilian market from four manufacturing facilities. The local business has grown over the years as local customers’ packaging mix continues to shift to metal beverage cans, according to Ball Corp.

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“Latapack-Ball is one of the most successful joint ventures in our company’s history, and this exchange allows us to further leverage, simplify and streamline our business and business decision-making in Brazil, as well as across the broader Ball metal beverage business,” John A. Hayes, Ball’s chairman, president and chief executive, said in a prepared statement.

The transaction is subject to customary approvals and is expected to close no later than the first quarter of 2016.

Ball officials said they will work with Brazil’s Tribunal of Administrative Council for Economic Defense to address competition concerns regarding Ball’s proposed offer for Rexam PLC, a can manufacturer based in London, for $6.64 billion. That deal was announced in February.

BROOMFIELD —Ball Corp. announced Tuesday that it will acquire the minority interest owned by its joint-venture partners in Latapack-Ball that supplies cans and ends to the Brazilian market.

Ball Corp. (NYSE: BLL) said it will acquire the remaining 39.9 percent minority interest in the Latapack-Ball beverage-can business in exchange for the issuance of 6 million Ball common shares, giving the Broomfield-based company full ownership of Latapack-Ball. Ball’s shares were trading at $66.90 Tuesday, which would give the deal an estimated value of $401 million.

The joint venture was established in 1995. The operation supplies cans…

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