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Nampak glass business sale taking 'longer than anticipated'

29th May 2019

By: Creamer Media Reporter

     

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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.

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 Deputy Editor Online

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