Plastics packaging specialist Bowler Metcalf has finalised the much-anticipated sale of its 41.38% stake in SoftBev, which bottles niche soft-drink brands like Jive and Pepsi. A Sens announcement released on Monday indicated that the final enterprise value of SoftBev would be determined by the actual profits achieved by the company for the year ending June 30 2018. Confirmation of the long-awaited sale provided plenty of fizz to Bowler’s share price, which finished the day 12.2% stronger at R10.10. SoftBev has been bought by The Beverage Company, parent of Gauteng and Eastern Cape-based beverage producer Little Green Beverages. Bowler said the minimum consideration for its shareholding would be about R233m after various adjustments. The company said the final amount of the purchase consideration — after taking account of SoftBev’s final net debt and working capital position — could include a deferred consideration of up to R126m. This meant a price range for Bowler’s stake of betwee...
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