Plans for Antalis remain in place
The Nanterre Commercial Court in France ruled yesterday that Sequana, the holding company of Arjowiggins and Antalis, will be liquidated. The company states that it cannot meet the financial obligations imposed by the dispute with BAT. Moreover, it was no longer in a position to meet its operating costs or service other liabilities since the majority of the Arjowiggins Group's companies were in insolvency proceedings.
As recently decided, a new shareholder structure will be continued to be sought for the Antalis subsidiary in order to raise funds for future development.
Trading in Sequana shares on the Euronext stock exchange in Paris are to be suspended.
EUWID Pulp and Paper keeps busy professionals up-to-date on the latest news from European pulp and paper markets.
Want to find out more? Check our subscriptions or test EUWID free of charge.