Georgia-Pacific Agrees to Sell European Tissue Operation to SCA
Feb. 8, 2012 - SCA said that Georgia-Pacific has accepted its binding offer and both parties have signed a purchase and sales agreement.
In a written statement, SCA said, "The process will continue towards finalizing the acquisition, including the approvals by relevant competition authorities and further local consultation processes."
On November 10, 2011, SCA delivered a binding offer to acquire Georgia-Pacificīs European tissue operations for EUR 1.32 billion (SEK 12.6 billion).
SCA noted that Georgia-Pacific has a well-established presence in Europe in both Away-From-Home and consumer tissue products, and in particular, marketed with the well-known Lotus brand
According to SCA, Georgia-Pacifics European tissue operations have approximately 5,000 employees and 15 production sites in seven countries. Sales in 2010 amounted to EUR 1.25bn (SEK 11.9bn).
See related story:
- SCA Makes EUR 1.32 Billion Bid for Georgia-Pacific's European Tissue Operations (11/10/2011)