Binder Grösswang advised Greek shareholders on the sale of ARGO S.A. (Greece) to Austrian ALPLA Group

Binder Grösswang advised the founding shareholders of ARGO S.A. on the sale of 100% of the shares in ARGO S.A. (Greece) to ALPLA group. Closing of the transaction took place on 1 October 2018 in Vienna. The contracting parties have agreed not to disclose the purchase price.

Florian Khol: “We are pleased by the continued confidence of Argo's Greek shareholders in our expertise in complex cross-border M & A transactions.”

Argo S.A., founded in 1971 and based in Athens, is a highly reputed rigid plastic packaging manufacturer with two production facilities (Greece and Romania). The company supplies rigid packaging for the personal care, pharmaceutical, chemical, crop protection and detergent industries. In close collaboration with its customers, the company develops, designs and produces a variety of bottles, droppers, tubes and closures.

ALPLA is one of the leading companies in the rigid packaging market. The transaction will significantly increase ALPLA's existing market share in South-Eastern Europe and its know-how in the pharma packaging market. Binder Grösswang already advised ARGO Group in the sale of its Egypt business to ALPLA Group in 2016.

The Binder Grösswang team comprised partner Florian Khol (Corporate / M&A) and Claudia Fochtmann (Attorney at Law, Corporate / M&A) as well as Christian Wimpissinger (Partner, Tax) and Clemens Willvonseder (Attorney at Law, Tax).