Mondi Group, a leading international paper and packaging company, announced that it has agreed to acquire 93.4% of the outstanding share capital of Nordenia International AG from funds managed by Oaktree Capital Management, LP and certain other minority shareholders for a total cash consideration of EUR240 million. Nordenia is an international supplier of innovative consumer packaging solutions and hygiene components with 12 fully invested operating facilities located in seven countries across Europe, North America and Asia.
Mondi Group's existing Consumer Packaging business produces premade bags, re-closable bags, stand-up pouches and advanced films and laminates, primarily for the packaging of consumer goods. he acquisition is expected to complete in the fourth quarter of 2012, subject to customary completion conditions including the approval of certain competition authorities.
Mondi Group acquires 93,4% of Nordenia International AG
Mondi Group, a leading international company in the paper and packaging industry, announced that they have agreed to acquire 93,4% of the share capital of Nordenia International AG from the funds managed by Oaktree Capital Management, LP and those of others small shareholders for a total of 240 million euros. Nordenia is an international provider of innovative packaging solutions and hygiene components, with 12 fully operational factories located in seven countries in Europe, North America and Asia.
Mondi Group's existing consumer packaging business produces pre-made bags, resealable bags, stand-up bags, and plastics and laminates for consumer goods. The full acquisition, expected by the end of 2012, is subject to compliance with customary conditions, including approval from competition authorities.