Nampak wraps up takeover

- Last updated on GMT

Related tags: Stock market, Board of directors

AN SA packaging group, with a turnover of R18 billion (€1.78bn) a
year, is due to emerge from the Nampak-Malbak merger, which crossed
its last major hurdle yesterday when Malbak shareholders approved
the R1.97bn transaction.

AN SA packaging group, with a turnover of R18 billion (€1.78bn) a year, is due to emerge from the Nampak-Malbak merger, which crossed its last major hurdle yesterday when Malbak shareholders approved the R1.97bn transaction.

Nampak shareholders gave their blessing to the accord last week, and the new, expanded company will be launched on August 26, when Malbak shares will be delisted.

Nampak announced yesterday that its executive chairman Trevor Evans would retain his position in the enlarged group, with John Bortolan as group MD.

Malbak CE John Monks will head European operations, where acquisitive growth is due to happen. At the moment, 65 per cent of the group's sales are in SA, 30 per cent in Europe and 5 per cent in the rest of Africa.

Related topics: Processing & Packaging

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