Australian packaging firm Orora has confirmed to be in discussions about a potential acquisition of French premium glass bottles manufacturer Saverglass.
“The negotiations will take some days to finalise due to a number of factors including the size and global nature of the target business,” Orora said in a statement, while requesting a voluntary suspension of trading in its shares on the Australian stock market.
Shares of Orora were placed on a trading halt on August 28. The voluntary suspension would remain in place until earlier than commencement of trading on September 1 or when Orora requests for the voluntary suspension otherwise be lifted, the company said.
The Saverglass Group manufactures and decorates high-end glass bottles for wines and spirits. In the fiscal year 2022, recorded total sales were EUR 786 million.