Abris Capital to become majority shareholder in Paloma, provide money for investments in capacities, efficiency and trademark.
Slovenia' s tissue paper and products manufacturer Paloma has signed a deal with the Polish private equity fund Abris Capital Partners on a €15m capital increase. Paloma's shareholders will decide on the move at the general body meeting scheduled for 5 January 2016. Slovenia's sovereign holding company Slovenski državni holding (SDH), which owns nearly 71% of the shares in Paloma has clearly expressed support for the sale of the company to the Polish investor.
Once the capital increase and acquisition of shares are completed, Abris Capital will become majority shareholder in Slovenia's tissue manufacturer and will be required to publish a mandatory takeover bid for the remaining Paloma-shares at the same price per share as offered in the capital increase process, e.g. €3.30 per share.
Paloma runs four four tissue machines and 28 converting lines at the facility in Sladki Vrh in northeastern Slovenia, right next to the border with Austria. In 2014, the company produced 68,000 t of tissue and 63,500 t of paper products.