Frigoglass Group, the UK-based manufacturer of beverage coolers, is in talks to sell its Nigerian business, Africa’s largest glass container producer, as it looks to raise cash ahead of looming debt maturities.
The company, which builds refrigerators used by drink makers across the world, is drawing interest from potential buyers for its Nigerian unit Beta Glass Plc, Chairman Gagik Apkarian said in an interview. He declined to name the interested parties, but said Beta’s soaring profit made it an attractive asset.