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Canned: Oressa, a metal can packaging spin-off, withdraws $300 million IPO

November 17, 2016

Oressa, a metal can packaging division of Ardagh Group, withdrew its plans for an initial public offering on Thursday. It originally filed in June 2015 with a proposed deal size of $300 million.

The London, United Kingdom-based company was founded in 1932 and booked $1.9 billion in sales for the 12 months ended June 30, 2015. It had planned to list on the NYSE under the symbol ORES. Citi, Deutsche Bank, Goldman Sachs, Barclays, J.P. Morgan and Credit Suisse were set to be the joint bookrunners on the deal.