Nampak sells glass business for R1.5bn
Sale to Isanti Glass 1 follows several years of financial underperformance
29 September 2019 - 16:55
Nampak, Africa’s largest diversified packaging manufacturer, has sold its glass business to Isanti Glass 1, an entity made up of a black-owned investment company and a local subsidiary of beer maker AB InBev (AB InBev), for about R1.5bn.
The glass business is one of two primary glass container manufacturers in SA servicing beverage and food manufacturers with an estimated market share of 25%, Nampak said...
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