Czech government sells Vipap Videm to RIDG Holding

PM 3 produced close to 69.000 t of paper in 2018. Photo: Vipap Videm
12 Nov 2019 − 

Czech investors will take control of Slovenia's newsprint company Vipap Videm. The transaction is pending approval by competition authorities.

After several unsuccessful attempts, the government of the Czech Republic has finally found a buyer for its 96.5 per cent shareholding in Slovenia’s publication and packaging paper producer Vipap Videm. The company is to be sold to the Prague-based RIDG Holding.

According to a spokesperson for the Czech Ministry of Finance, "the terms of the transaction have been already completed", but the deal is still subject to approval by relevant competition authorities. The purchase price stands at €2.5m. In addition, RIDG Holding would also take over the company's liabilities, the spokesperson said.

Vipap Videm runs three paper machines and has produced more than 190,000 t of standard and improved newsprint, magazine paper, and packaging and wrapping paper in 2018.

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