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Wednesday, 2 May 2018

Mondi confirms it will acquire NPP for USD 28.7 mn

M&A WATCH- Mondi confirms USD 28.7 mn NPP acquisition: Mondi Paper Sales said on Monday that it has agreed to acquire 100% of Egyptian industrial bags maker National Company for Paper Products (NPP) for USD 28.75 mn (around EGP 500 mn) “to expand deeper into the Middle East,” Reuters reports. “The acquisition of NPP complements our network of plants in the growing Middle East region and provides us with a leading position in Egypt to grow our business and better serve our customers,” said Mondi’is Fibre Packaging CEO Erik Bouts. Mondi has been working to expand its presence in Egypt and had applied for a mandatory tender offer to acquire the remaining 70.1% stake in the Suez Bags company in a transaction valued at EGP 199.4 mn.

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