French glass manufacturer Verallia has received a bid for its stake in its Argentina manufacturing facility.
The French-headquartered group said it had received a bid from an unnamed buyer for its 60% stake in the lass facility, located in Mendoza.
The business generate sales of about €144 million last year.
Patrice Lucas, CEO said: our duty is to investigate if it makes sense or not for the company to sell. If we have good value for it, we will see if we make a decision, a positive decision or not. This is under investigation.
He added: “There is no decision made at this stage. And if we do it, it is because it will create value for the company and our shareholders.
“And obviously, we consider as well our people in Argentina, and if we do it, it is because we believe it makes sense for them as well, and it is not a negative impact on our Argentinian people as well.”
