RPC GROUP
Superfos acquisition approved by shareholders / Rights issue will raise GBP 85m
Shareholders of rigid plastics packaging supplier RPC Group (Higham Ferrers, Rushden / UK; www.rpc-group.com) overwhelmingly approved the acquisition of injection moulded packaging manufacturer Superfos Industries (Taastrup / Denmark; www.superfos.com) – see Plasteurope.com of 17.12.2010 – at an extraordinary general meeting held 6 January.
The approval vote allows RPC to move ahead with its fully underwritten rights issue to raise net proceeds of GBP 85.3m (EUR 102.6m). The remaining EUR 107.4m of the Superfos purchase price of EUR 240m will be met by debt. Dealings in the New Ordinary Shares commenced on 7 January and the rights issue will close 21 January. The deal is expected to be completed in early February. It will broaden the scope of RPC’s activities significantly as it only has one manufacturing facility in the Nordic region, where Superfos has a strong presence.
The approval vote allows RPC to move ahead with its fully underwritten rights issue to raise net proceeds of GBP 85.3m (EUR 102.6m). The remaining EUR 107.4m of the Superfos purchase price of EUR 240m will be met by debt. Dealings in the New Ordinary Shares commenced on 7 January and the rights issue will close 21 January. The deal is expected to be completed in early February. It will broaden the scope of RPC’s activities significantly as it only has one manufacturing facility in the Nordic region, where Superfos has a strong presence.
13.01.2011 Plasteurope.com [218238-0]
Published on 13.01.2011