NewswireToday - /newswire/ -
Gauteng, South Africa, 2016/10/10 - Mondi Group has signed an agreement to acquire 100% of the outstanding share capital of LLC Beepack (“Beepack”) from a private investor for a consideration of RUB2,825 million (EUR41 M) on a debt-and-cash-free basis - BeepakWorld.com / MondiGroup.com.
As part of the dual listed company structure, Mondi Limited and Mondi plc (together “Mondi 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.
Beepack’s plant in Lebedyan (Lipetsk region of Russia, around 400 km south of Moscow) makes a range of corrugated packaging trays and boxes for food and agricultural products including beverages, fruit and vegetables, poultry and dairy. Customers include local Russian and international producers. For the year ended 31 December 2015 Beepack generated revenues of RUB2,782 million (EUR41 million) and adjusted EBITDA of RUB462 million (EUR7 million).
David Hathorn, Chief executive of Mondi Group, said: “The acquisition of Beepack supports the ongoing development of our Corrugated Packaging business in central and eastern Europe. It enables us to enter a market with strong growth potential while expanding our geographic reach to better serve our customers.”
The transaction remains subject to customary closing conditions and is expected to complete in Q4 2016.
Contact: Andrew King - Group CFO
T: +27(0)11 994 5415 - E: andrew.king[.]mondigroup.com.
At Mondi, our products protect and preserve the things that matter.
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. We offer over 100 packaging and paper products, customised into more than 100,000 different solutions for customers, end consumers and industrial end uses - touching the lives of millions of people every day. In 2015, Mondi had revenues of €6.8 billion and a return on capital employed of 20.5%.
The Mondi Group (mondigroup.com) is 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. Our innovative technologies and products can be found in a variety of applications including hygiene components, standup pouches, super-strong cement bags, clever retail boxes and office paper. Our key customers are in industries such as automotive; building and construction; chemicals; food and beverage; home and personal care; medical and pharmaceutical; packaging and paper converting; pet care; and office and professional printing.
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. For us, acting sustainably makes good business sense and is part of the way we work every day. 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
Incorporated in the Republic of South Africa
Registration number: 1967/013038/06
JSE share code: MND ISIN: ZAE000156550
Incorporated in England and Wales
Registered number: 6209386
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI