Vidrala, SA has made public that it has signed an agreement of intent for the acquisition of a controlling stake in the Portuguese company Santos Barosa Vidros, SA
The eventual acquisition is subject to the completion of the corresponding legal and financial reviews as well as the signing of the transaction agreements. Likewise, its execution will be subject to the approval of the legally applicable competition authorities.
Santos Barosa Vidros, SA is a manufacturer and marketer of glass containers which operates a large production center located in the town of Marinha Grande, Portugal. It produces around 400.000 tons of glass per year, expecting to obtain in 2017 estimated sales in the range between 130 and 135 million euros and an operating result, EBITDA, estimated in the range between 32 and 34 million euros.
The price agreed for the transaction would be equivalent to a company value of approximately 250 million euros, a figure that could vary moderately depending on the debt effectively assumed at the time of the closing of the transaction.
It is expected that the signing of the definitive contracts for the operation and its closing will take place during the third quarter of 2017.