Novus Holdings to acquire South African packaging maker ITB Manufacturing

Novus Holdings agreed to acquire control of ITB Manufacturing, a South African maker of flexible packaging and security bags, through its subsidiary Paarl Media. Purchase consideration is R180 million plus an EBIT-based amount, capped at R300 million in aggregate.

“The purchase consideration in aggregate shall not exceed an amount of R 300 million.”sharenet.co.za

• 1 source
• sharenet.co.zaNVS - NOVUS HOLDINGS LIMITED - Acquisition of ITB Manufacturing Proprietary Limited and Withdrawal of Cautionary Announcement - 19/09/2017Sep 19, 2017

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