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Nampak Ltd Enters Into Agreement With Clements Nominees Ltd


Monday, 18 Nov 2013 01:46am EST 

Nampak Ltd announced that Nampak, through its wholly owned subsidiary, Nampak Holdings (UK) Limited, has entered into an agreement with Clements Nominees Ltd (CNL), in terms of which Nampak will acquire the entire issued share capital of Alucan Investments Limited (BVI)(AIL) as well as all the shareholder loans made by CNL as at the effective date. AIL is the beneficial owner of the entire issued share capital of Alucan Packaging Limited (APL) including the shareholder loans. As an integral part of the transaction Nampak has been granted an option, valid for a period of ten years, to acquire the entire issued share capital of a company engaged in rigid plastic packaging in Nigeria if and when the beneficial owner elects to sell his interest (the Option). The consideration payable for the Acquisition and the Option is USD301 million , which Nampak will fund through available cash resources and existing debt facilities.