The Reed Smith team advising IDEAL on the transaction consisted of global co-lead of Reed Smith's Financial Industry Group, Panos Katsambas, corporate partner Sam Webster and senior associate Victoria Bryden. Partner Caspar Fox and counsel Harrison Stimson provided tax advice.
Astir, based in Athens, produces approximately seven billion crown corks annually, with over 90% exports activity and delivering its products to more than 70 countries.
Astir directly owns 74.99% of Coleus Packaging (pty) Limited. Coleus, based in Johannesburg, produces approximately six billion crown corks annually and is the leading producer in Sub-Saharan Africa.
Guala Closures is a leading player in high value-added closures for spirits and wine, with 33 production facilities, selling its products in more than 100 countries.
IDEAL is a listed holding company with a diversified investment portfolio.
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