Mondi Group acquires Nordenia International

Mondi Group, international paper and packaging company, announces it has agreed to acquire 93.4% of the outstanding share capital of Nordenia International AG from funds managed by Oaktree Capital Management, for a total cash consideration of EUR240 million, and will assume EUR398 million of debt and debt‐like liabilities implying an enterprise value for 100% of Nordenia of EUR655 million.
In addition, Mondi Group Nordenia is an international supplier of consumer packaging solutions and hygiene components with 12 fully invested operating facilities located in seven countries across Europe, North America and Asia. Additionally, a wholly owned greenfield plant currently being constructed in China is expected to begin operating in early 2014.
The Acquisition is expected to be completed in the fourth quarter of 2012, subject to customary completion conditions.  Commenting on the Acquisition, David Hathorn, Chief Executive of Mondi Group, said:  "The acquisition of Nordenia offers Mondi Group a unique opportunity to create a leading consumer packaging business, build on long term customer relationships across both businesses and establish a platform to expand further in high‐growth emerging markets.”