Investor Buys Colombian Glass Producer

Investor Buys Colombian Glass Producer

Colombia M&A

Colombia-based Investment firm Andina Acquisition Corp has agreed to buy Colombian glass maker Tecnoglass in a deal valued at $243m, it says. In the transaction, Andina will initially pay Tecnoglass 17.5m newly-issued shares valued at $10.18 each, a 1.3% premium to the previous closing price, and will also take on $65m of net debt. In addition, Tecnoglass shareholders will be entitled to receive up to an aggregate of 3m earn-out shares to be released based on meeting certain Ebitda or share-pric

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