|  
News

Kokusai Pulp & Paper to take over Antalis


Photo by Antalis
31 Mar 2020 − 

Transaction to create world leader in paper and packaging distribution.

Japan's paper distribution group Kokusai Pulp & Paper Co. Ltd (KPP), Sequana SA and Bpifrance entered into binding agreements for the potential acquisition of Sequana and Bpifrance's 83.7% in Antalis by KPP. In addition a restructuring agreement has been signed between KPP, Antalis and the lenders of Antalis' syndicated credit facility, providing for the refinancing of €100m of the outstanding facility amount (€287m on 31 December 2019) through new financing and a write-off of the remainder. Upon completion of the announced transaction, KPP will launch a simplified cash tender offer on all remaining shares of Antalis.

KPP, one of the leading Japanese paper distribution groups with operations in Japan, Asia and Australia, said that it was seeking to expand in Asia Pacific as well as on a global scale, expecting to strengthen its competitiveness. The transactions are expected to create a world market leader in the distribution of paper, packaging and visual communication in Asia, Europe, Australia and Latin America. The newly formed group will represent annual sales of about €5.3bn and will sell about 3.3 million tonnes of paper annually. The transaction is not subject to the approval of the French, European or foreign competition authority in charge of merger control.

This article is an excerpt from our article on the acquisition of Antalis.

To gain full access to company news and in-depth market and price reports on major paper and board grades, raw materials and consumables consider subscribing to EUWID Pulp and Paper or start a three-week free trial.

previous − Lecta reports temporary production restart at Cartiere del Garda

Italy: Coronavirus fears fuel demand for packaging paper and board  − next