Greece's Frigoglass to sell glass operations for $225 mln

Frigoglass SAIC

22/05/2015 06:38

ATHENS, May 22 (Reuters) - Greek refrigerator maker 
Frigoglass  FRIr.AT  agreed to sell its glass operations to GZI 
Mauritius Ltd. for $225 million (202.03 million euros), it said 
on Friday. 
      Frigoglass, which sells coolers to beverage companies 
including to Coca-Cola HBC  CCH.L  and to brewers in Europe, 
will divest all its glass container operations in Nigeria and 
Dubai and the complementary plastic crates and metal crowns 
businesses in Nigeria, it said in a statement. 
    GZI Mauritius is the holding company of GZ Industries, the 
largest beverage can manufacturer in West Africa, it said. 
    Proceeds from the sale will be used to reduce its debt. 
    Frigoglass also announced a net loss of 3.9 million euros in 
the first quarter versus a loss of 3.4 million euros in the same 
period last year.  
 
(1 euro = 1.1137 US dollar) 
 
 (Reporting by Angeliki Koutantou) 
 ((angeliki.koutantou@thomsonreuters.com; +30 210 3376436; 
Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net)) 
 
Keywords: FRIGOGLASS GLASS OPERATIONS