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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Altor to acquire Papyrus from Stora Enso for 640m07/03/2008. Source: AltAssets. 
Nordic private equity firm Altor Equity Partners, through its Altor Fund II, has agreed to acquire Swedish paper and packaging business Papyrus from Stora Enso for 640m. The 640m transaction comprises about 490m in cash, approximately 93m of net liabilities assumed by the purchaser and a vendor note of 57m, according to a statement.
As part of the deal, Papyrus and Stora Enso have signed a supply agreement, which will ensure that Stora Enso continues to be one of the strategic suppliers to Papyrus.
Claes Ekstrφm, partner at Altor, said, 'We are impressed how well Papyrus has developed over recent years and it is a very strong platform for future growth and development. Altor's aim is to continue to develop Papyrus into the leading and most customer-oriented merchant in Europe. This will benefit Papyrus's customers, employees and strategic suppliers.'
Altor closed its Altor Fund II on 1.15bn in 2006.
Altor's investments have included Lindorff, AGR Group, ACO and Dynapac.
Copyright © 2008 AltAssets
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