Vidrala Executes Letter Of Intent For The Acquisition Of Santos Barosa

Spanish-based Vidrala announced 26 July that it has executed a shares purchase agreement for the acquisition of the share capital of the Portuguese company Santos Barosa Vidros, S.A. The completion of the transaction will be conditioned upon the approval by the Spanish antitrust authorities. Santos Barosa manufactures and sells glass containers and owns a major production facility located in Marinha Grande, Portugal. The company produces around 400,000 glass tons per year, with an estimated turnover for 2017 ranging between EUR 130-135, and an estimated operating result EBITDA ranging between EUR 32-34m. The agreed transaction price amounts to an enterprise value equivalent to approximately EUR 250m.