Source - RNS
RNS Number : 1080M
Glasstank B.V
10 October 2016


EUR 185,000,000 8.500% Senior Secured Notes due 2019 (the "Notes")

GLASSTANK B.V. (the "Issuer")


Further to the announcement of 14 September 2015 regarding the commencement of a process to explore strategic options, Yioula Glassworks S.A. (the "Company"), the parent company of the Issuer, announces today that the Company, together with its subsidiary Yalos Holdings (Overseas) Limited, has entered into a sale and purchase agreement to sell substantially all of the Company's glass container business (which includes all the issued shares of the Issuer, but excludes the glass tableware and Ukrainian glass container businesses) to BA Vidro, S.A.


Closing under the sale and purchase agreement is subject to required competition approvals and other customary closing conditions, and is expected to occur by the end of 2016.


Upon receipt of the required competition approvals and satisfaction of certain conditions, the sale and purchase agreement requires that the Issuer will submit notice for redemption of the Notes in full in accordance with the terms of the Notes indenture.



For further information please contact:


5, Orizomilon Str, 122 44,

Egaleo Athens, Greece

Tel no: +30 210 5403401

Fax no: +30 210 5403444

Email: [email protected]

Attention: Mr. George Frangoulis



10 October 2016






This announcement has been issued through the Companies Announcement Service of

the Irish Stock Exchange.


This information is provided by RNS
The company news service from the London Stock Exchange