Packaging Group Offers €91M For Stake In Bottle Top Maker

Law360 (April 16, 2020, 6:10 PM EDT) -- A packaging group said Thursday that it’s made a $99 million (about €91 million) tender offer to buy 20% of the voting shares of an Italian company that makes closures for wine and liquor bottles.

Special Packaging Solutions Investments Sàrl, based in Luxembourg, said it made the tender offer for more than 15 million shares of Guala Closures SpA, which represents about one-fifth of the company’s voting rights.

Special Packaging, controlled by investment manager Investindustrial, said it was offering to buy the shares of Guala Closures for about $6.50 each, a premium of almost 3% over its closing share price of...

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