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NAMPAK LIMITED - Sale of Nampak Plastics Europe

Release Date: 13/12/2019 13:15
Code(s): NPK     PDF:  
Wrap Text
Sale of Nampak Plastics Europe

Nampak Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1968/008070/06
Share Code: NPK
ISIN: ZAE000071676
(“Nampak” or “the Company”)


SALE OF NAMPAK PLASTICS EUROPE

Nampak is pleased to announce that it entered into an agreement for the
sale of Nampak Plastics Europe Limited (NPE) for an undisclosed amount to
Bellcave Limited (Bellcave).

NPE was designated as an asset held for sale on 28 August 2019 and
subsequent to an accelerated disposal process, an agreement was signed.
The sale is unconditional and effective immediately and includes the
pension fund liability.

The sale of the NPE business is in line with Nampak’s ongoing strategy to
sharpen its focus on strategic substrates. Nampak continues to
rationalise the portfolio to optimise and improve returns on capital and
reinforce its strategic intent.
Nampak Plastics Europe

NPE is a market leading manufacturer and packaging supplier to the UK
dairy sector of high density polyethylene (HDPE) bottles. With 34% share
of the available UK milk bottle market it supplies many of the key
players in the United Kingdom and Ireland dairy industries. NPE is a
wholly-owned subsidiary of Nampak Holdings (UK) Limited which is
ultimately held by Nampak Limited.

Bellcave

Bellcave Limited is owned and backed by Greybull Capital, an
entrepreneurial investment group that specialises in medium to long-term
investments and whose purpose is to improve businesses for all
stakeholders.

The transaction is not a categorised transaction in terms of the JSE
Listings Requirements.

Bryanston
13 December 2019
Sponsor:
UBS South Africa (Pty) Ltd

Date: 13-12-2019 01:15:00
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