Sequana to sell Arjowiggins divisions

摘要

Sequana will almost entirely quit paper production. The company announced it had entered into exclusive negotiations with Dutch company Fineska for the sale of Arjowiggins Graphic and Arjowiggins Creative Papers. The Arjobex division within Arjowiggins is excluded from the sale. The transaction requires approval from the relevant competition authorities and is expected to be finalised by the end of October 2018. Sequana says that the gross amount of the transaction should be €125m. But given the companies' debts and other liabilities, net proceeds from the sale should be in the region of €20m.