According to a regulatory filing, London-based private equity firm Helios Investment Partners has reached an agreement to acquire a 70.1% majority stake in Beta Glass PLC, Nigeria’s second-best-performing stock this year.Read Full Original
The deal, valued at $100 million, involves the purchase of Frigoglass Group’s entire shareholding in the West and Central African glass container manufacturer.
Key Points:
Frigoglass Industries (61.9%) and Frigoinvest Nigeria (8.2%) are selling their combined holdings to Helios, with cash settlement expected by March 2026.
The acquisition is pending regulatory approval, with Beta Glass set to assist in facilitating the transition.
Beta Glass has seen extraordinary market performance, with its share price surging 531% year-to-date.
The rally followed a nearly sevenfold increase in after-tax profit to N10 billion in Q1 2025.
The company is the region’s largest glass container producer, manufacturing 650 million units annually.
Frigoglass intends to use the sale proceeds to repay maturing senior secured bonds.
Beta Glass continues its expansion strategy, committing €17.5 million to grow its footprint across Francophone Africa under the AfCFTA framework.Read Full Original
Sources: Premium Times