Nampak says exit from East Africa could net R250m
Debt-laden packaging group says it has received offers for assets in Ethiopia, Kenya, Tanzania but a rights offer remains an essential condition for refinancing
30 March 2023 - 20:16
Nampak says it is making headway in exiting East Africa where its business has been hammered by currency volatility, a move could free up as much as R250m in cash for the debt-stricken packaging group.
The board also announced the appointment of Michael Dorn as chief restructuring officer to oversee a keenly anticipated plan that finally has been submitted to lenders for consideration. Still, it emphasised that a rights offer remains an essential condition for refinancing...
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