Mondi PLC Acquisition(s)
22 December 2017 - 7:00PM
UK Regulatory
TIDMMNDI
Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI
22 December 2017
As part of the dual listed company structure, Mondi Limited and Mondi plc (the
"Companies" and together "Mondi Group", the "Group" or "Mondi") notify both the
JSE Limited and the London Stock Exchange of matters required to be disclosed
under the Listings Requirements of the JSE Limited and/or the Disclosure
Guidance and Transparency Rules and the Listing Rules of the United Kingdom
Listing Authority.
Mondi Group signs an agreement to acquire Powerflute
Mondi Group has signed an agreement to acquire 100% of the outstanding shares
in Powerflute Group Holdings Oy ("Powerflute" or the "Company"), a division of
Nordic Packaging and Container Holdings ("NPAC Holdings"), for a total
consideration of EUR365 million on an enterprise value basis.
Powerflute operates an integrated pulp and paper mill in Kuopio (Finland) with
an annual production capacity of 285,000 tonnes of high-performance
semi-chemical fluting. Powerflute's premium semi-chemical fluting is sold to a
diverse range of customers, primarily for packaging fresh fruit and vegetables,
but also other end-uses such as electronics, chemicals and pharmaceuticals.
Around half of the Company's production is sold in Europe, while the remainder
is exported globally.
For the year ended 31 December 2017, the Company is expected to generate
revenues of around EUR183 million and unaudited pro-forma adjusted EBITDA of
around EUR42 million. Powerflute will be integrated into Mondi's Packaging Paper
Business Unit.
Commenting on the acquisition, Peter Oswald, Chief executive of Mondi Group,
said: "The acquisition of Powerflute supports our strategy of investing in
high-quality packaging and paper assets. We are excited by this opportunity to
expand our customer offering by further broadening our containerboard product
range and geographic reach."
The transaction remains subject to competition clearance and customary closing
conditions and is expected to complete in the first half of 2018.
Contact details:
Mondi Group
Andrew King +44 193 282 6355
Group CFO
Clara Valera +44 193 282 6357
Group Head of Strategy and Investor
Relations
Sara Sizer +43 664 244 9994
Group Head of Communication & Marketing
We are Mondi: In touch every day
Mondi is an international packaging and paper Group, employing around 25,000
people across more than 30 countries. Our key operations are located in central
Europe, Russia, North America and South Africa. In 2016, Mondi had revenues of
EUR6.7 billion and a return on capital employed of 20.3%.
We are fully integrated across the packaging and paper value chain - from
managing forests and producing pulp, paper and compound plastics, to developing
effective and innovative industrial and consumer packaging solutions. With over
100 products customised into more than 100,000 solutions, we offer more than
you may expect. Leading brands around the world rely on our innovative
technologies and products across a variety of industries such as agriculture;
automotive; building and construction; chemicals and dangerous goods; food and
beverages; graphic and photographic; home and personal care; medical and
pharmaceutical; office and professional printing; packaging and paper
converting; pet care; retail and e-commerce; and shipping and transport.
We believe sustainable development makes good business sense. It's integral to
our responsible and profitable growth, and embedded in everything we do, every
day. We continue to look for ways to do more with less, promote the responsible
management of ecosystems, develop and inspire our people, and enhance the value
that our sustainable product solutions create.
Mondi has a dual listed company structure, with a primary listing on the JSE
Limited for Mondi Limited under the ticker code MND and a premium listing on
the London Stock Exchange for Mondi plc, under the ticker code MNDI. We have
been included in the FTSE4Good Index Series since 2008 and the JSE's Socially
Responsible Investment (SRI) Index since 2007.
Sponsor in South Africa: UBS South Africa (Pty) Ltd.
END
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