European Commission Approves SCA's Acquisition of GP's European Tissue Business
July 5, 2012 - SCA said that the European Commission today approved its acquisition of Georgia-Pacific's European tissue business.
The purchase price amounts to EUR 1.32 billion on a debt free basis.
The GP's European tissue operations have about 4,700 employees.
According to SCA, GP’s European tissue business, which includes 15 plants located in seven countries and the well-known Lotus brand, will be transferred to SCA´s ownership in connection with the closing of the deal on July 20.
SCA noted that the EU´s clearance requires divestment of Georgia-Pacific´s consumer tissue business in the UK including production capacity, Georgia-Pacific´s Benelux consumer tissue branded business under the Lotus brand and some of Georgia-Pacific´s and SCA`s retailer branded business in Scandinavia including production capacity.
See related story:
- Georgia-Pacific Agrees to Sell European Tissue Operation to SCA