Schumacher has an enterprise value of €634 million (about R12 billion) and will be financed from existing facilities. The transaction, subject to certain customary regulatory approvals, is expected to close in the first half of next year.
Its share price gained more than 4% at around 9am yesterday, trading at R334.13.
This will be Mondi's second significant acquisition of this year. In March, it announced that it would buy packaging maker DS Smith for £5.1 billion (about R117.4 billion), creating one of the world's largest packaging manufacturers.
Esta historia es de la edición October 10, 2024 de The Citizen.
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