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Real Economy News in Real Time
R/€ = 15.54 Change: 0.01
R/$ = 13.86 Change: 0.00
Au 1424.37 $/oz Change: -3.33
Pt 847.26 $/oz Change: -3.22
 
 
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Nampak aims to sell Nampak Glass to preferred bidder by April

28th February 2019 BY: Marleny Arnoldi
Creamer Media Online Writer

Packaging group Nampak on Thursday advised its shareholders that it has been in exclusive negotiations with a preferred bidder in respect of the potential disposal of the Nampak Glass business, which may have a material effect on the price of the company’s shares, if concluded.

The company aimed to conclude a purchase agreement and sale by April.

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Following Nampak’s decision late last year to dispose of the Glass business, the company initiated a competitive disposal process, which has resulted in Nampak entering into an exclusivity arrangement with the preferred bidder.

Nampak stated that the preferred bidder was a black-owned South African company, which is supported by a large international corporation that has significant glass expertise. 

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EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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