Sale of Vidrala Italia S.r.l. to Verallia Group confirmed
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, VidralaSale of Vidrala Italia S.r.l. to Verallia Group confirmed
Vidrala announces that it has reached an agreement with Verallia to sell its Italian subsidiary, Vidrala Italia S.r.l.
Vidrala Italia consists of a single production plant located in the north of Italy, from where it supplies approximately 3% of the demand for glass containers for food and beverages in Italy. The purchase price is said to be 230 million Euro.
The divestment follows a thorough strategic reflection. It will allow the Vidrala Group to refocus on strategic regions and capture the opportunity to realise the value created in Italy. Verallia has a long-standing presence in the Italian market and the acquisition of our business will enable them to expand their product offering to the benefit of customers.
Note: Information relating to the acquisition
The completion of the transaction is still subject to the approval of the Italian Competition Authority under the Italian merger control law and of the Italian Government under foreign investment rules as well as the customary conditions precedent.
It is planned that The Group completes this transaction between the second and third quarters of 2024.
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