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Real Economy News in Real Time
R/€ = 15.53 Change: 0.01
R/$ = 13.86 Change: 0.00
Au 1424.10 $/oz Change: -3.60
Pt 847.39 $/oz Change: -3.09
 
 
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Nampak glass business sale taking 'longer than anticipated'

29th May 2019 BY: Creamer Media Reporter

The negotiation process for the sale of Nampak’s glass business is taking longer than anticipated, the JSE-listed company said on Wednesday, but reaffirmed the parties’ commitment to conclude the transaction.

The group explained in a cautionary announcement that the delay was as a result of “complexities” involved in the transaction, which was announced in February and previously expected to close by the end of April.

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Nampak is negotiating with a black South African-owned company that is supported by a large international corporation with ‘significant’ glass expertise for the sale of its glass business. 

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EDITED BY: Mariaan Webb Creamer Media Senior Researcher and Deputy Editor Online
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