Greece’s Frigoglass, the world’s biggest drink refrigerator equipment maker, agreed to buy an 80% stake in a glass bottle maker in the United Arab Emirates for 6.8 million USD (4.7 million euros), daily Kathimerini reports quoting the Greek company today. Frigoglass said the acquisition of Dubai-based Jebel Ali would allow it to expand into a growing world glass container market valued at about 27 billion USD. Frigoglass stated it will also assume net debt of 23 million USD. The deal is expected to be financed through borrowing.
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