Become a member Register now
Coming soon: xMas 
Special
Special
Special
|
EQS-News: Mayr-Melnhof Karton AG
/ Key word(s): Disposal
Mayr-Melnhof Karton AG (MM) has agreed with Evergreen Hill Enterprise, Pte. Ltd., part of an Indonesian-based privately held group of diversified companies, on the sale of 100 % of the shares in TANN Group, headquartered in Traun, Austria, for a cash and debt-free enterprise value of EUR 360 million. TANN Group prints on and finishes externally sourced fine paper to produce tipping paper. As the business is unrelated to cartonboard and consumer packaging, MM has decided to sell it. TANN Group generates annual sales of approximately EUR 220 million. TANN comprises 7 production sites in Austria, China, the Philippines, Turkey, Canada and Germany and a global workforce of around 730 employees, who will join Evergreen Hill Enterprise, Pte. Ltd.. “The sale offers MM the opportunity to further strengthen and expand the position in its core consumer packaging business. We are delighted that TANN Group gets a new strategic owner with Evergreen Hill Enterprise, Pte. Ltd. which is committed to investing in its future. Above all, we would like to thank the entire staff for their great work over the past years with MM.”, comments Peter Oswald, CEO of MM. The transaction, which is subject to usual completion conditions and regulatory approvals, is expected to be closed in the first quarter of 2025. MM is a global leader in consumer packaging. The Group offers packaging solutions for cartonboard and folding cartons with an attractive offer in kraft papers, uncoated fine papers, leaflets and labels. MM promotes sustainable development through innovative, recyclable packaging and paper products. Based in Singapore, Evergreen Hill Enterprise, Pte. Ltd. is part of an Indonesian-based privately held group of diversified companies serving a wide variety of industries, such as banking, tobacco, consumer electronics, telecommunications, fast moving consumer goods, e-commerce, plantation, hotels & real estate, and many others.
For further information, please contact:
18.12.2024 CET/CEST This Corporate News was distributed by EQS Group. www.eqs.com |
| Language: | English |
| Company: | Mayr-Melnhof Karton AG |
| Brahmsplatz 6 | |
| 1040 Wien | |
| Austria | |
| Phone: | 0043 1 501 36 91180 |
| Fax: | 0043 1 501 36 91391 |
| E-mail: | investor.relations@mm.group |
| Internet: | www.mm.group |
| ISIN: | AT0000938204 |
| WKN: | 93820 |
| Indices: | ATX |
| Listed: | Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
| EQS News ID: | 2054177 |
| End of News | EQS News Service |
|
|
2054177 18.12.2024 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
