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:
YIOULA GLASSWORKS S.A.
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