Exclusive: PE firms, defense companies vie for Ball Corp's aerospace unit

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Private equity firms Blackstone Inc and Veritas Capital Fund Management LLC are competing against large defense companies to acquire the aerospace business of Ball Corp , according to people familiar with the matter.

have also expressed interest in the business, which could be worth over $5 billion, the sources said.

Ball is expected to invite final bids for the unit by the end of July, the sources said, requesting anonymity as these discussions are confidential.the sale process. Ball, the world's largest supplier of beer cans, is looking to divest the unit to focus more on its beverage packaging operations and trim its debt pile of about $9.7 billion.

Blackstone, Veritas and Bae Systems declined to comment. Ball, Textron, and General Dynamics did not respond to requests for comment.

 

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