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Competition Commission Approval for Acquisition of Nampak Cartons and Labels Division from Nampak Products Limited
CAXTON AND CTP PUBLISHERS AND PRINTERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1947/026616/06)
Share code: CAT ISIN: ZAE000043345
Preference share code: CATP ISIN: ZAE000043352
("Caxton” or "the company")
COMPETITION COMMISSION APPROVAL FOR ACQUISITION OF
NAMPAK CARTONS AND LABELS DIVISION FROM NAMPAK
PRODUCTS LIMITED (“NAMPAK”)
Shareholders are referred to the announcement released on SENS on
16 September 2013 advising that Caxton has entered into an agreement in
terms of which it will acquire the operating division of Nampak Cartons and
Labels in South Africa from Nampak.
Caxton is pleased to announce that Competition Tribunal approval of the
transaction has now been received, that all the outstanding conditions
precedent to the transaction have accordingly been fulfilled and that the
effective date of the transaction will be 1 August 2014.
The Nampak Cartons and Labels business in South Africa is a significant
player in the market and manufactures general folding cartons for a wide
range of customers, as well as cigarette cartons for British American Tobacco
and wet glued beer labels for SA Breweries.
This acquisition reflects the increasing strategic importance of the packaging
divisions within Caxton. The turnover from these divisions has increased from
around R677m (2012) to R764m (2013) and to R927m (2014). This
acquisition will afford Caxton an even greater opportunity to expand its
packaging offerings and to benefit from economies of scale. As a result of the
acquisition, packaging turnover for the following year is expected to exceed
R2 billion.
16 July 2014
Sponsor
Arcay Moela Sponsors Proprietary Limited
(Registration number 2006/033725/07)
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