Completion of the transfer of Astir Vitogiannis S.A. to Guala Closures
Completion of the transfer of Astir Vitogiannis S.A. to Guala Closures
  Listed  |  Economy  |  Greece

Completion of the transfer of Astir Vitogiannis S.A. to Guala Closures

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RE+D magazine
07.08.2024
IDEAL Holdings S.A., following its announcement of 23.04.2024, after a relevant notification by its 100% Cypriot subsidiary, S.I.C.C. Holding Limited (“SICC”), announced the completion of the transfer of all shares of SICC's wholly owned subsidiary Astir Vitogiannis S.A. ("Astir") to the company Guala Closures.

Astir directly owns 74.99% of Coleus Packaging (pty) Limited (“Coleus”). 

The agreed Enterprise Value amounted to € 136 mil and following the closing adjustments and the deduction of the minority interest in Coleus, IDEAL received in cash the amount of € 115.5 mil and the buyer assumed the total bank debt of Astir and Coleus of € 11.3 mil. 

The net profit of this transaction is estimated at € 74 mil and will be depicted in the financial statements of the year 2024.

IDEAL HOLDINGS