Glaverbel Increases Stake In Borsky Glass Plant

The Belgian company group Glaverbel, has increased its stake in the charter capital of Borsky Glass Plant to 83% from 44%, a press release from the plant says. Glaverbel has acquired 19.25% (849,064 commons shares) from each of the European Bank for Reconstruction and Development (EBRD) and International Finance Corporation, it says. The deal cements Glaverbel's position as a major producer of sheet glass in central and eastern Europe. The group is also prepared to buy stock in the plant from its minority shareholders.