Page 26 - Glass Machinery Plants & Accessories no. 4/2017

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BORMIOLI ROCCO yield bond, paying
a 10% coupon and
BEING SOLD TO TWO maturing in August
2018. The bond was
DIFFERENT BUYERS issued by Bormioli
Rocco Holdings and
Italy’s glass bottles and saw bids from other is rated B3 by
container products industrial groups such as Moody’s with a
manufacturer Bormioli Germany’s Gerresheimer stable outlook.
Rocco spa is said to be and Italy’s Zignano Borioli Rocco was
close to be sold to two Vetro. The controlling said to be valued
different buyers in a deal shareholder Vision about EUR 500-600
that will see Triton private Capital has been trying to million. However
equity firm to buy sell the company for some reorganization of the now it seems that bids
the pharma division months with Rothschild as business in four different are for a EUR 400-500
and Bormioli Luigi glass mandated advisor. units in April 2014 million prices or 9-10x
container manufacturer Vision already (Pharmaceutical Glass; 2015 Bormioli’s ebitda.
to buy the household sold Bormioli’s Pharmaceutical Plastic; Bormioli reached EUR
division. cosmetics division in Tableware and Food & 451.9 million in revenues
Last Spring Chinese December 2013 to Beverage). in 2015, with a EUR 52.3
conglomerate Austrian Stölzle Glass Vision Capital bought million ebitda and a EUR
Deliglass was instead Group and Bormioli’s a 94.1% stake in 29.2 million net financial
said to be in pole position food&beverage division to Bormioli Rocco in 2011 debt. The Bormioli bond
to buy the company. Swiss Vetropack Holding from Banco Popolare and is listed at the Frankfurt
This would be the end in June 2015. Bormioli financed the deal issuing Stock Exchange and
of a long auction that had announced a a EUR 250 million high quotes around 102.8.

PASABAHCE
PAS˛ABAHÇE ACQUIRES

PEARL GLASS GROUP

Pasabahce, the third final stage, and the next Pasabahce’s vice chairman,
largest glass producer in few hours will see the to review the company’s
the world and the second transfer of the company’s new project in the Egyptian between Egypt and those
largest in the European ownership to the Turkish market and the future countries.
continent, completed the company. investments in Egypt’s glass The minister said that
acquisition of the Pearl Pa abahçe intends to invest industry. the recent gas discoveries
Glass Group for USD USD 100 million in the He added that the Turkish in the Delta and the
50 million, according to Egyptian market as soon company’s new project will Mediterranean area provide
sources in the Egyptian as the acquisition deal is provide 1,200 jobs as soon all the needs of the national
Ministry of Industry. completed, said Minister of as the new expansions are industry of gas, including
Sources at Pearl said Trade and Industry Tarek completed, alongside 650 the glass industry, pointing
that the deal reached its Kabil in a statement on existing jobs. out that Egypt will achieve
Wednesday. He pointed out that the self-sufficiency of gas
He added that company intends to export during the next year.
Pasabahce aims to its products to foreign For his part, Tokel said
develop the Egyptian markets, including the that investment in the
glass company and United States, Latin Egyptian market represents
start production in America, Arab, African, and an important hub for
the next year. Eastern European markets, the company’s products
Kabil held a meeting benefiting from the free to a large number of
with Cemil Tokel, trade agreements signed international markets.

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