Groupe Guillin SA (ENXTPA: ALGIL) signed an exclusive agreement to negotiate the possible acquisition of packaging business in Italy from Sirap Gema S.p.A., Italmobiliare SpA (BIT: ITM) said. Sirap Gema is subisidiary of Italmobiliare. The sale may be carried out by the end of 2013 and the operation could be completed by the middle of 2014 after the approval by the competent market authorities.

The sale concerns the business at the plant in Castelbelforte, in northern Italy, and the other business which Sirap Gema is operating in the rigid transparent packaging through the Inline Poland plants will remain part of the group.