The European Commission has okayed the acquisition of Sappi's paper mills in Kirkniemi, Maastricht and Stockstadt by the Germany-based private equity company Aurelius Group. The transaction was announced in late September and is expected to be finalised in the first quarter of 2023.
According to the Commission, the transaction was examined under simplified merger review procedure and the competent authority concluded that the proposed acquisition would not raise ay competition concerns.
The three mills have a total capacity of 480,000 tpy of woodfree uncoated and coated paper and paperboard, and 750,000 tpy of coated mechanical paper. The enterprise value of the transaction amounts to €272m, Sappi revealed when announcing the proposed divestment back in September.