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Business|Financial|Packaging|Packaging|Operations
Business|Financial|Packaging|Packaging|Operations
business|financial|packaging-company|packaging|operations

Nampak completes sale of Bevcan Nigeria business

Aluminum beverage cans

Photo by Bloomberg

31st January 2025

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE-listed packaging producer Nampak has completed the disposal of its Bevcan Nigeria business to Singapore-incorporated private company Alucan Investment after six months of due process and approvals.

The company expects to receive the first tranche of the proceeds, amounting to $58.2-million, on January 31, with a further $10-million payable by February 7.

The disposal successfully deleverages the group’s financial position and improves the risk profile of the company. Nampak will use the $68.5-million in proceeds to settle debt.

Nampak’s Nigerian assets reported an attributable loss of R2-billion in 2023.

Nampak can now focus its efforts on core operations to unlock further shareholder value.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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