The deal depends on CBG’s due diligence and the completion of final documentation, which is expected to take approximately four weeks.
Capital raiseMetro Glass is also pushing ahead with plans to raise capital.
It also intends to subscribe for shortfall shares not taken up, provided that the subscription amount does not exceed 19.9% of its shareholding in Metro.
This is based on the expected terms of the offer, being a pro-rata offer at a subscription price of 3 cents per share.
The board was refreshed in March, and chief executive Simon Mander resigned in early May and was replaced by director Bennett.

Australian company throws Metro Performance Glass a lifeline