CORRECTED - CORRECTED-UPDATE 1-Ball to buy AB InBev's 4 can making plants fo

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Wed Jul 1, 2009 6:15am EDT

(Corrects paragraph 5 to clarify that Ball shares closed at $45.16 and not $45.25)

* To buy 4 plants in the U.S.

* Sees deal adding to earnings in 2010

July 1 (Reuters) - Ball Corp (BLL.N), a plastic and metal packaging products maker, said it would acquire four beverage can manufacturing plants in the United States from brewer Anheuser-Busch InBev (ABI.BR) for $577 million, to expand its worldwide beverage can business.

Ball expects to close the transaction at the end of the year or early in the first quarter of 2010, and sees it to add to its earnings and cash flow in 2010.

The company expects the plants to generate revenue and EBITDA of about $680 million and $94 million, respectively, in the first full year of operation.

Goldman Sachs & Co and J.P. Morgan Securities Inc are acting as financial advisors to Ball on the deal, the company said in a statement.

Shares of Ball closed at $45.16 Tuesday on the New York Stock Exchange.

For the alerts double-click [ID:nWNAB3563] . (Reporting by Anand Basu in Bangalore; Editing by Gopakumar Warrier)

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