Duropack has made an offer to acquire all remaining shares in Croatian containerboard and corrugated board manufacturer Belisce. The Austrian corrugated packaging company, which already owns a 76.99% stake in Belisce, is offering HRK700 per share. The total value of the deal is estimated at HRK187.5m
Taking into account general economic conditions as well as the current situation in the markets for paper and packaging in Croatia and other countries in Southeastern Europe, Belisce management considers the bid to be a fair offer. The offer period is set to close at the beginning of November.