Photo by: Creamer Media
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.
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.