As part of Apollo's1 sale of a 9% stake in Verallia (Paris:VRLA) by way of a private placement with accelerated book building, Verallia has bought back on March 5th, 2021 2.1 million of its shares at a unit price of 28.75 euros. The settlement of the transaction will take place on March 9th, 2021. This 60 million euro transaction is financed with the Group's liquidity2 (1,080 million euros as at December 31st, 2020) and is carried out as part of the share buyback program authorized pursuant to the 11th resolution approved by the shareholders' general meeting held on June 10th, 2020.
The shares will be used by the Group to meet future employee share ownership program and long-term incentive plans. As announced during its ESG strategy presentation on January 21st, 2021, the Group aims to reach an employee-ownership stake of 5% of Verallia' share capital by 2025 and this share buyback aims at preventing any dilutive impact arising therefrom.
About Verallia At Verallia, our purpose is to re-imagine glass for a sustainable future. We want to redefine how glass is produced, reused and recycled, to make it the world's most sustainable packaging material. We work in common cause with our customers, suppliers and other partners across the value chain to develop new healthy and sustainable solutions for all.
With around 10,000 people and 32 glass production facilities in 11 countries, we are the leading European and the third largest producer globally of glass containers for food and beverages, providing innovative, customized and environmentally-friendly solutions to more than 10,000 businesses around the world.
Verallia produced more than 16 billion bottles and jars and achieved revenues of €2.5 billion in 2020. Verallia is listed on compartment A of the Euronext Paris stock exchange (Ticker: VRLA ISIN: FR0013447729) and belongs to the SBF 120, CAC Mid 60, CAC Mid Small et CAC All-Tradable indexes. For more information, visit www.verallia.com
Certain information included in this press release does not constitute historical data but constitutes forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Verallia operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed or identified under Chapter 3 "Facteurs de Risques" in the Universal Registration Document dated 29 April 2020, approved by the AMF under number R. 20-006. The Universal Registration Document, which also includes the report on corporate governance, the statement of non-financial performance (Déclaration de performance extra-financière DPEF) and a description of the Company's share buy-back program are available on the Company's website (www.verallia.com) and the AMF's website (www.amf-france.org). These forward-looking statements and information are not guarantees of future performances.
Forward-looking statements speak only as of the date of this press release and Verallia expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Such forward- looking statements are for illustrative purposes only.
This press release includes only summary information and does not purport to be comprehensive. No reliance should be placed on the accuracy or completeness of the information or opinions contained in this press release.
This press release does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction.
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1 Through Horizon Investment Holdings S.à. r.l., a company owned by Horizon Parent Holdings S.à. r.l., which is owned by AIF VIII Euro Leverage, L.P., an investment fund managed by an affiliate of Apollo Global Management, Inc.
2 Calculated as the Cash Undrawn Revolving Credit Facilities Outstanding Commercial Papers.
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