Paperlinx has found a buyer for its Polish operations. The company will sell its Zing subsidiary to a local consortium.
Australian paper wholesaler Paperlinx will sell its Polish operations. The company said that its European subsidiary, Paperlinx Netherlands Holdings, had signed a corresponding agreement with a consortium of the local private equity firm Warsaw Equity Management and a local management team. Paperlinx trades under the name of Zing in Poland. The transaction is to take effect immediately. The company says that it will not receive any direct benefits from the proceeds of the sale.
Polish wholesaler Zing has been active on the market since 1991 and was trading under the name of Mercator Papier until 2011.
Paperlinx had recently announced that it would try to sell its remaining European subsidiaries in Spain, the Czech Republic, Poland, Scandinavia, Ireland and Germany. A couple of weeks ago, Paperlinx sold three of its packaging companies in the UK to Antalis.