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.