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The transaction for the sale and purchase of the glass packaging manufacturing platform in Moldova to the Swiss group Vetropack exceeded 892.3 million lei (42.6 million euros).

The transaction for the sale and purchase of the glass packaging manufacturing platform in Moldova to the Swiss group Vetropack exceeded 892.3 million lei (42.6 million euros).

In particular, according to the Moldovan Stock Exchange, 99.96% of shares (502,998 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 (285 343 units, 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 sale and purchase transaction exceeded 892.3 million lei (42.6 million euros at the current exchange rate of the NBM). As InfoMarket reported earlier, Western NIS Enterprise Fund (WNISEF) announced that it has exited, alongside other shareholders, its stake in Moldova-based Glass Container Company and Glass Container Prim (the “Glass Container Companies”, “GCC”) to Vetropack Austria Holding AG, a subsidiary of Vetropack Holding SA (SWX:VETN). It should be noted that Vetropack is a leading Swiss player in the European glass packaging industry, operating facilities in Switzerland, Austria, Czech Republic, Slovakia, Croatia, Ukraine, and Italy, with CHF 714.9 million in 2019 revenues. The Glass Container Companies, which export circa 2/3 of its production, have grown to become the largest glass packaging manufacturing platform in Moldova with strong market positions across food and beverage product categories in Moldova, Romania and CEE, and are privileged suppliers to leading European wine, beer, spirits, bottled water, and packaged food producers. GCC’s ambitious growth and production expansion have been backed by European Bank for Reconstruction and Development, European Investment Bank via Mobiasbanca OTP Group, the Black Sea Trade and Development Bank, Moldova Agroindbank, International Finance Corporation and VR Capital. Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova with over 25 years of successful experience in investing in small and medium-sized companies. WNISEF was funded by the U.S. government via the U.S. Agency for International Development (USAID). Since its inception, WNISEF’s cumulative investments total over $186 million to 130 companies employing 26,000 people and made it possible to unlock $2 billion for companies in Ukraine and Moldova. Since 2015, the Fund has been implementing a $35 million technical assistance program in Ukraine and Moldova, focusing on export promotion, local economic development, effective investment and economic leadership. WNISEF is funding innovative, high-impact, reform focused programs and aims to support Ukraine and Moldova at this critical period by developing sound economic policy and leadership. // 16.12.2020 - InfoMarket.