20th Jan 2016 07:51
LONDON (Alliance News) - Plastics company RPC Group PLC on Wednesday said it secured a 97% take-up for its rights issue to fund the acquisition of Global Closure Systems.
RPC struck a deal to acquire France-based GCS, a plastic closures and dispensing systems specialist, in December for EUR650.0 million and said it would raise GBP232.6 million through a rights issue to help fund the purchase.
FTSE 250-listed RPC, which supplies rigid plastics packaging products and plastic containers, said on Wednesday it has secured a 97% take-up for the rights issue, with the bookrunners on the deal now set to procure subscribers for the rest of the shares on offer.
By Sam Unsted; [email protected]; @SamUAtAlliance
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