Nampak sells South African Cartons and Labels business

Africa's largest packing firm Nampak has announced plans to sell its South African Cartons and Labels business to a unit of Caxton and CTP Publishers and Printers Ltd for an undisclosed sum.

According to the Reuters news agency the move is part of a strategy to focus on key regions and core products.

The sale is expected to be concluded during the first quarter of 2014 and is subject to approval by South Africa's competition authorities.

"Caxton has entered into an agreement in terms of which it will acquire the operating division of Nampak Cartons and Labels Division South Africa," a SENS announcement said.

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