EANS-Adhoc: Mayr-Melnhof Karton AG
MM to sell its Eerbeek and Baiersbronn virgin fiber cartonboard mills
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22.06.2021
Vienna - The Mayr-Melnhof Group ("MM") and a subsidiary of funds managed by
Oaktree Capital Management, L.P. ("Oaktree") have reached a firm intention on
the sale of MM's virgin fiber cartonboard mills located in Eerbeek, Netherlands,
and Baiersbronn, Germany, to Oaktree for an equity value of EUR 104.6 million
and net debt subject to final closing accounts.
Eerbeek and Baiersbronn together have an annual capacity of about 245kt of
virgin fiber cartonboard (FBB) produced on two board machines and employ
approximately 400 people. Sales reached EUR 195 million in 2020.
The divestment is in line with and forms part of MM's strategy to focus on new
acquisitions and growth capex.
MM will engage in a consultation process with the employee representatives and
expects the transaction, which is subject to certain closing conditions and
regulatory approvals, including in relation to MM's recent acquisitions, to
close in the third quarter of 2021.
Further inquiry note:
For further information, please contact:
Stephan Sweerts-Sporck
Investor Relations
Mayr-Melnhof Karton AG
Brahmsplatz 6, A-1040 Vienna, Austria
Tel.: (+43/1) 50136 – 91180, Fax: (+43/1) 50136 – 91195
e-mail: investor.relations@mm-karton.com
end of announcement euro adhoc
--------------------------------------------------------------------------------issuer: Mayr-Melnhof Karton AG
Brahmsplatz 6
A-1040 Wien
phone: +43 1 50 136
FAX:
mail: investor.relations@mm-karton.at
WWW: www.mayr-melnhof.com
ISIN: AT0000938204
indexes: ATX PRIME, ATX
stockmarkets: Wien
language: English
Original content of: Mayr-Melnhof Karton AG, transmitted by news aktuell