Mayr-Melnhof Cartonboard International plans to take over 100 per cent of Kotkamills, Finnish manufacturer of cartonboard, saturating base kraft paper and sawnwood, Euwid reports.
According to the European Commission, the Competition DG was notified of the proposed transaction on 4 May. The provisional deadline for examination of the takeover was set on 11 June 2021.
MM Cartonboard announced its plan to acquire Kotkamills last December, setting the purchase price at around €425m.
At the time of the announcement, Mayr-Melnhof Group CEO, Peter Oswald, commented the deal: “The acquisition of Kotkamills is an ideal complement to our existing cartonboard business. It strengthens MM’s business model as a dedicated cartonboard and folding carton producer with a reinforced position in virgin fiber based cartonboard which has good growth potential. Kotkamills adds significantly to MM’s sustainability strategy offering innovative solutions for plastic replacement. We have great confidence in the top-class team of Kotkamills to shape a promising future together.”