The Mondi Group, Johannesburg, South Africa, has sold 100% of its shares in Europapier, a paper merchant business selling graphic, packaging, and office papers, to Heinzel Group, Vienna, Austria, for EUR 60 million on a cash and debt-free basis. The group said it would use the money to reduce debt.
Mondi CEO David Hathorn noted that "this is an important step that allows us to increase the focus on our core business while also creating the opportunity for Europapier to position itself as a fully independent paper merchant in the future." The completion of the deal is conditional on the approval of the relevant competition authorities.
Europapier is a paper and office supplies merchant business serving customers across central Europe and Russia. It also is a top paper merchant in Austria and has leading market positions in Bosnia Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Russia, Serbia, Slovakia, and Slovenia.
TAPPI
http://www.tappi.org/