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Ardagh in talks on two more buys
Edited by : AL CIRCLE
1 min read
Packaging group Ardagh has announced plans to raise money to help fund further acquisitions.
Following the recent €85m deal to buy aluminium packaging firm Boxal, Ardagh said today it was in "advanced" talks on the potential acquisition of two other unrelated businesses.
The company said it planned to issue a total of $410m in two separate senior bonds. It added that the proceeds would be used to repay debt or for other purposes if one or both of the planned acquisitions did not go ahead.
In a trading update, Ardagh also said revenue for the final quarter of last year would be in line with the same period in 2010, while underlying earnings (EBITDA) would fall by a "high single-digit" percentage.
Following the recent €85m deal to buy aluminium packaging firm Boxal, Ardagh said today it was in "advanced" talks on the potential acquisition of two other unrelated businesses.
The company said it planned to issue a total of $410m in two separate senior bonds. It added that the proceeds would be used to repay debt or for other purposes if one or both of the planned acquisitions did not go ahead.
In a trading update, Ardagh also said revenue for the final quarter of last year would be in line with the same period in 2010, while underlying earnings (EBITDA) would fall by a "high single-digit" percentage.
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