Greece's Frigoglass, the world's biggest drink refrigerator equipment maker, agreed to buy an 80 per cent stake in a glass bottle maker in the United Arab Emirates for $6.8 million, the group said on Tuesday.
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. Frigoglass said it will also assume net debt of $23m. It said the deal was expected to be financed through borrowing.
Reuters, Athens
