M-real Suspends Deal to Sell Premium Papers Business
July 8, 2011 - M-real said that its negotiations to divest M-realís Premium Papers business to a sister company of German Papierwerke Lenk AG have been suspended.
On April 2011, M-real announced a Memorandum of Understanding (MoU) regarding the divestment of the Germany based Reflex millís Premium Papers business to a sister company of Papierwerke Lenk AG. Consequently M-real expected to book a negative EUR 12 million non-recurring item in Speciality Papers business area.
M-real expected the deal to close during the second quarter of 2011.
M-real said parties will evaluate possibilities to continue negotiations later and M-real will also consider other options to divest Premium Papers business.
The EUR 12 million negative non-recurring item will not be booked in M-realís in 2Q 2011 result.
SOURCE: M-real Corp.
See related story:
M-real to Divest Premium Paper Business (4/12/2011