EU approves SCA's €1.32B acquisition of GP's European tissue business; deal including 15 plants in seven countries is expected to close on July 20
July 5, 2012
– The European Commission has today, 5 July 2012, approved SCA's (STO:SCAA)(STO:SCAB) acquisition of Georgia-Pacific's European tissue business. The purchase price amounts to EUR 1.32 bn on a debt free basis. The operations have approximately 4,700 employees.
The acquisition confirms SCA’s position as a European leader in the industry with an enhanced, integrated European tissue business and well-known brands.
Georgia-Pacific’s European tissue business, which comprises of 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 which is expected 20 July.
EU´s clearance requires divestment of Georgia-Pacific´s consumer tissue business in the UK including production capacity, Georgia-Pacific´s Benelux consumer tissue branded business under the Lotus brand and some of Georgia-Pacific´s and SCA`s retailer branded business in Scandinavia including production capacity.
See also previous press releases dated 10 November 2011 and 8 February 2012.
NB: This information is such that SCA must disclose in accordance with the Securities Markets Act.
The information was submitted for publication on 5 July 2012 at 13.00 CET.
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