July 19 (Reuters) - Orora Ltd ORA.AX :
* Orora announces sale of petrie mill land ORA.AX
* Says deal for a total consideration of $50.5 million
* Says total profit on the sale is anticipated to be approximately $10 million
* Will receive $20 million on exchange of contracts & balance of the proceeds will be paid as decommissioning of the site progresses over next two years
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