In particular, the TeraPlast Group is evaluating strategic alternatives for its flexible packaging division, currently operated through its subsidiaries TeraBio Pack, TeraPlast Recycling, and Optiplast. The purpose of this process is to identify the best strategic alternatives for the Group, including diversifying its capital base, reducing leverage, and improving operational efficiency.
“The process is currently at an early stage, and the TeraPlast Group has not yet made any decision as to whether to pursue a transaction or, if so, what its structure would be. Subject to the level of interest expressed by potential investors, all elements related to the structure of a potential transaction may be evaluated and defined. Should such a transaction be pursued, TeraPlast would obtain the necessary corporate approvals and comply with all applicable legal reporting obligations,” the report reads.
According to the report, “there can be no assurance that the process of exploring and evaluating strategic options will result in a transaction. The company will keep the market informed, in accordance with applicable legal and regulatory requirements, if and when developments occur that require such disclosure.”
The TeraPlast Group includes the companies TeraPlast (Romania, Republic of Moldova, Hungary, Austria and Spain), TeraGlass (Romania), TeraPlast Recycling (Romania), TeraBio Pack (Romania), Pro-Moulding (Romania and Hungary), Optiplast (Croatia), and Aquatica Experience Group companies (Romania). The Group’s parent company, TeraPlast SA, has been listed on the Bucharest Stock Exchange since July 2, 2008, under the symbol TRP.
TRP shares have traded 5% higher over the last year. TeraPlast founder, Dorel Goia, owns 46.8% of the company’s share capital.