Deals
Brambles to Acquire Wal-Mart Container Supplier Ifco
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Brambles Ltd. offered 696 million euros ($950 million) for Ifco Systems NV to add plastic containers used for shipping fruit and vegetables by companies including Wal-Mart Stores Inc. and Metro AG.
The bid is valued at 13.50 euros per share, Sydney-based Brambles said today in a statement. That’s 20 percent more than Ifco’s closing price on Nov. 12. Island International Investment LP, majority owned by funds advised by Apax Partners LLP, said separately that it agreed with other investors to sell a combined 96 percent stake in Ifco.