Ball Corp. completes sale of aerospace business for $5.6B

Ball Corporation (BALL) announced that the company completed the sale of its aerospace business for approximately $5.6B subject to customary closing adjustments. “Today marks a significant milestone in Ball’s 144-year history. We extend our best wishes for continued success to our former colleagues and their new BAE Systems (BAESY) teammates. Ball will utilize the approximately $4.5B of after-tax cash proceeds to reduce leverage, return value to shareholders and embark on the next step in our journey with greater financial flexibility and a focused purpose of advancing sustainability through aluminum packaging solutions that support a world free from waste. Our culture, purpose, operating model, and team are aligned with current and future shareholders’ interests by acting responsibly, delivering innovation at scale, and generating cash flow and higher EVA returns to accelerate shareholder value creation now and beyond,” said Daniel Fisher, CEO.