Glenalta

Glenalta, a special purpose acquisition company, combined its business with CFT, a manufacturer of food processing and packaging machines, through a reverse takeover. CFT's shares became listed on AIM Italia, and Glenalta will spend approximately EUR 88 million on CFT's development.

Glenalta has taken over Cft Group, an Italian machinery manufacturer for the food and beverage industry, with an equity value of €96.5 million.

SPAC Glenalta has approved a business combination with CFT Group, a designer and manufacturer of food & beverage processing and packaging machinery. Glenalta will use €10 million to acquire a 10.4% stake from existing shareholders and €88 million to fund CFT's development.