BA Vidro buyout of Drujba Glassworks is suspended

Published 15th March, 2017 by Greg Morris

A Bulgarian financial regulator has temporarily suspended the buyout offer by Portugal’s BA Vidro for Drujba Glassworks.

Last year, Greek glassmaker Yioula agreed to sell its Bulgarian unit Drujba Glassworks to BA Vidro as part of a larger buyout that also included the group's glass container business in Romania.

Bareck Overseas, a wholly owned subsidiary of Portugal's BA Vidro, proposed to buy the remaining stock of Drujba Glassworks for €1.9 per share.

Drujba Glassworks has one plant in Sofia and one in Plovdiv.

Bulgaria’s Commission for Protection of Competition gave no further details in its notice of the suspension published on Friday.

Greg Morris

Glass International Editor

Greg Morris has been editor of Glass International and organiser of the Glassman conferences since 2012, specialising in glass packaging. Prior to this he spent five years working in newspaper journalism.