EU Approves SCA Acquisition of G-P's European Tissue Assets
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The European Commission this past week approved SCA's (Sweden) acquisition of Georgia-Pacific's (USA) European tissue business. The purchase price totals EUR 1.32 billion on a debt free basis. The operations have approximately 4,700 employees.
G-P's European tissue business, including 15 plants located in seven countries and the well-known Lotus brand, will be transferred to SCA's ownership in connection with the closing of the deal expected to occur on July 20. EU's clearance requires divestment of G-P's consumer tissue business in the U.K. including production capacity, G-P's Benelux consumer tissue branded business under the Lotus brand, and some of G-P's and SCA's retailer branded business in Scandinavia, including production capacity.
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