Mondi Group, a leading international paper and packaging company, announced it has agreed to acquire 93.4% of the outstanding share capital of Nordenia International AG from funds managed by Oaktree Capital Management, L.P.1 and certain other minority shareholders for a total cash consideration of €240 mill.
In addition, Mondi Group will assume €398 mill. of debt and debt-like liabilities implying an enterprise value for 100% of the company of €655 mill.
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. Additionally, a wholly owned greenfield plant currently being constructed in China is expected to begin operating in early 2014.
Mondi Group's existing consumer packaging business produces pre-made bags, reclosable bags, stand up pouches and advanced films and laminates, primarily for the packaging of consumer goods.
The acquisition is expected to complete in the fourth quarter of 2012, subject to customary completion conditions including the approval of certain competition authorities.
Source: Mondi Group