The company “IDEAL HOLDINGS SA” (“Company”) informs the investing public, following the announcement of 21.03.2022 of the Company, regarding the agreement signed between the 100% subsidiary of the company Astir Vitogiannis SA (“Astir”) and of South African Breweries Proprietary Limited (“SAB”) for the acquisition of SAB ‘s majority stake in Coleus Packaging Proprietary Limited (“Coleus”) that the above transaction concerns the acquisition of 74.99% of Coleus and that is ZAR 210 million (€ 12.65 million – Exchange rate 1 EUR for 16.6 ZAR).
As originally announced, the transaction will be completed with the consent of the South African Competition Commission, which is expected within the next 60 days.
The transaction will be 57% financed by ZAR financing from local banks and 43% by Equity by Astir.
IDEAL Holdings estimates that the transaction will have positive results in the Consolidated Results of 2022.
Source: Capital
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