Astrapak Limited has reached an agreement to dispose of its Knilam business to Mapflex SA (Pty) Limited; a transaction fully aligned with Astrapak’s strategy of continuing its focus on creating operations of scale within the food, beverage, personal care, pharmaceutical and petrochemical markets.
Knilam is a Flexible packaging manufacturer that operates nationally and manufactures and sells predominantly modified atmosphere packaging solutions for applications in the perishable-produce, fresh-produce, and convenience-food markets.
The transaction, which is still subject to the usual and normal suspensive conditions applicable to a transaction of this nature, will take effect the first business day following the fulfilment of all the required conditions, which is expected to be on or about 1 August 2015.
Shareholders are advised that, as a result of the publication of this announcement, the cautionary announcement released on the Stock Exchange News Service of the JSE on 25 March 2015 is now withdrawn and caution is no longer required to be exercised by shareholders when dealing in their shares.
Click here to view detailed SENS announcement – Disposal of the business of Knilam and withdrawal of cautionary.