Nampak eyes share buyback as sale of glass business nears
The diversified packaging manufacturer rules out a special dividend payment
Nampak, Africa’s largest diversified packaging manufacturer, said on Thursday it might use proceeds from the sale of its glass business to buy back shares from shareholders.
The company, which is facing a tough economy at home and liquidity problems in Zimbabwe, among other things, said it was in the final stages of negotiating the sale of the business. The deal is likely to be finalised by the end of September. ..