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Completion of the Disposal of Nampak‘s Glass Business
Nampak Limited
(Incorporated in the Republic of South Africa)
Registration Number: 1968/008070/06
Share Code: NPK
ISIN: ZAE 000071676
(“Nampak” or the “Company”)
COMPLETION OF THE DISPOSAL OF NAMPAK‘S GLASS BUSINESS
Shareholders are referred to the announcement released by the Company
on SENS on 18 February 2020, regarding the proposed disposal of Nampak
Glass (“Disposal”).
Shareholders are hereby advised that all suspensive conditions to the
Disposal have now been fulfilled or waived and the Disposal will
accordingly be implemented in accordance with the agreed terms.
The consideration for the Disposal is estimated to be approximately
R1.5 billion and is payable in cash on or before the half year-end on
31 March 2020. The proceeds from the Disposal shall be used primarily
to reduce Nampak’s US dollar interest-bearing debt.
The Disposal is in line with Nampak’s active portfolio optimisation
strategy and will allow Nampak to focus on the balance of its portfolio
and to reduce its interest-bearing debt.
Bryanston
28 February 2020
Sponsor: UBS South Africa (Pty) Ltd
Investment bank, corporate advisor and transaction sponsor:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Legal adviser: ENSafrica
Date: 28-02-2020 11:46:00
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