IMA 81% in the ILAPAK Group

On February 4th, 2014, IMA SpA signed a preliminary agreement (antitrust approval pending) with the shareholder of Transworld Packaging Holding B.V. (“TWP”), a holding company of the Ilapak Group, concerning acquisition of a further 30% share of TWP: IMA’s ownership of Ilapak thus rises to 81%.

The decision to consolidate IMA’s position in the Ilapak Group ownership already in the first semester of 2014 was arrived at in light of the brilliant performance of the latter during the second half of 2013, as well as its business expansion projects in the food sector, which entail a closer integration with the industrial activity of the IMA Group.
The operation planned involves an overall financial intervention on IMA’s part worth 22.750 million euro, to be deposited into a single solution depending on how the closing goes. IMA has also reserved the right, in a separate option agreement, to acquire the remaining 19% of TWP stock during the fiscal years of 2017 or 2018.