Glass Container Company and Glass Container Prim will be merged into one company by the new owner - Vetropack Austria Holding AG, part of the Swiss group Vetropack Holding.
This is provided for by their published merger agreement between Glass Container Company (as takeover company) and Glass Container Prim. It should be noted that the authorized capital of Glass Container Company (production of glass containers) is 243 million 546.86 thousand lei, and Vetropack Austria Holding AG owns 99.961% of its shares, and the remaining 0.039% of shares belong to Eleusis Limited. The authorized capital of Glass Container Prim (production of glass containers) is 285 million 343 thousand lei, and Vetropack Austria Holding AG owns 100% of the shares. As a result of the merger of these companies, the acquiring company will receive all the property, assets of the acquired company, and will also assume all of its rights and obligations existing at the date of the merger. As noted, the merger of companies has many economic and operational advantages and represents a natural evolution, given that both companies have the same main activity - the production and trade of glass containers and they use installations (including industrial equipment) for their activities, as well as adjacent and interconnected premises, located in the immediate vicinity of the general headquarters of the companies at Uzinelor str., 201/10. Moreover, the companies share the workforce (489 employees), and most of the responsible persons are employed by both companies at the same time. As a result of the merger, decision-making will be simplified, the execution process will be optimized and administrative costs will be reduced, a single structure will be formed in which will be all the material forces and resources of the companies. Management will become more efficient as a result of the presence of a single executive body, it will be possible to improve marketing policy, ensure more efficient use of equipment (including machinery) and personnel of the companies involved. The takeover company will improve its financial position and improve its performance indicators as a result of the merger. It is planned that the authorized capital of Glass Container Company after the merger with Glass Container Prim will amount to 358 million 879.77 thousand lei, and its own capital - 788 million 539.1 thousand lei. At the same time, Vetropack Austria Holding AG will have 99.973% of the company's shares, while Eleusis Limited will have 0.027%. As InfoMarket reported earlier, the total amount of the transaction for the purchase of the Moldovan platform for the production of glass by the Swiss group Vetropack exceeded 892.3 million lei (42.6 million euros). In particular, according to the Moldova Stock Exchange, 99.96% of shares (502998 shares, par value of 1 share - 484 lei) of the Glass Container Company were sold for 521 million 921 thousand 518.02 lei, and 100% of shares (285343 shares, the par value of 1 share - 1000 lei) of Glass Container Prim - for 370 million 397 thousand 375.77 lei. Thus, the total value of the transaction for their purchase exceeded 892.3 million lei (42.6 million euros at the NBM exchange rate at that time).// 07.04.2021 — InfoMarket
