Ahlstrom has signed an agreement to divest its pre-impregnated decor papers and abrasive paper backings businesses to Perusa, a German-based private equity group.
The enterprise value of the deal is approximately EUR 20 million.
Upon completion of the deal, the ownership base of the divested businesses will be broadened to also include the current management of the sold business.
The divestment is made to comply with the commitments made to the European Commission and to the Brazilian competition authority CADE as disclosed in May 2013.
Under the terms of the agreement, Ahlstrom's pre-impregnated decor paper and abrasive paper backings businesses in Osnabrück, Germany, will be transferred to an entity held by Perusa Partners Fund 2, LP, a private equity firm advised by Munich-based Perusa GmbH.
The parties have also formed a joint venture to operate the power plant and the water facilities for the site, Ahlstrom said.
The completion of the transaction is subject to certain closing conditions, such as the European Commission's approval of the buyer and the agreements between Ahlstrom and the buyer.
Ahlstrom expects to close the deal during the first quarter of 2014, at the latest.
