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U.S. Can Divests U.S. and Argentinea Operations
Posted: February 17, 2006
U.S. Can Corporation announced that it has entered into a definitive agreement to sell its U.S. and Argentinean operations to Ball Corporation for approximately $1.1 million shares of Ball common stock and the repayment of approximately $550 million of U.S. Can’s debt. The current shareholders of U.S. Can will retain its European businesses. The transaction is expected to close by the end of the first quarter, subject to customary closing conditions.