Mondi PLC Further re acquisition of Olmuksan
June 01 2021 - 1:00AM
UK Regulatory
TIDMMNDI
Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
LEI: 213800LOZA69QFDC9N34
LSE share code: MNDI ISIN: GB00B1CRLC47
JSE share code: MNP
1 June 2021
Mondi completes acquisition of Olmuksan
Further to the announcement made on 5 January 2021, Mondi confirms that all
conditions have been satisfied and it has completed the acquisition of 90.38%
of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve
Ticaret A.S ("Olmuksan" or the "Company") from International Paper for a total
consideration of ?66 million. The implied enterprise value on a 100% basis
would amount to around ?88 million.
Olmuksan is a leading and well-established corrugated packaging player in
Turkey, listed on the Istanbul stock exchange. Its network of five plants
provides a diverse customer base with high-quality sustainable packaging for
food, beverage, agriculture and industrial applications.
Commenting on the acquisition, Andrew King, Group Chief Executive Officer of
Mondi, said: "We are delighted to have completed this acquisition, which
significantly strengthens our position in the fast-growing Turkish corrugated
market and expands our offering to existing and new customers in the region. We
look forward to welcoming the Olmuksan team to Mondi."
Mondi will now launch a mandatory tender offer to acquire the remaining 9.62%
of outstanding shares in the company that it does not already own.
Contact details:
Mondi Group
Clara Valera +44 193 282 6357
Group Head of Strategy and Investor
Relations
Suvra Jans +44 1932 826 333
Senior Media Relations Manager
About Mondi
Mondi is a global leader in packaging and paper, contributing to a better world
by making innovative packaging and paper solutions that are sustainable by
design. Our business is integrated across the value chain - from managing
forests and producing pulp, paper and plastic films, to developing and
manufacturing effective industrial and consumer packaging solutions.
Sustainability is at the centre of our strategy and intrinsic in the way we do
business. We lead the industry with our customer-centric approach,
EcoSolutions, where we ask the right questions to find the most sustainable
solution. In 2020, Mondi had revenues of ?6.66 billion and underlying EBITDA of
?1.35 billion.
Mondi has a premium listing on the London Stock Exchange (MNDI), and a
secondary listing on the JSE Limited (MNP). Mondi is a FTSE 100 constituent,
and has been included in the FTSE4Good Index Series since 2008 and the FTSE/JSE
Responsible Investment Index Series since 2007.
Sponsor in South Africa: UBS South Africa Proprietary Limited.
END
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