Published: May 5, 2010
Paper group offloads Europapier in €60mn deal.
South African paper and packaging group Mondi has sold its loss-making merchant operations in Central Europe and Russia.
The group will offload its paper merchant subsidiary Europapier to Austria’s Heinzel Group in a €60mn deal.
Europapier sells graphic, packaging and office papers, as well as other office supplies. The company is a market leader across Central and Eastern Europe, but last year made a €6.5mn loss.
Mondi will use the sale proceeds to pay off its debts.