News

Mondi Group, the packaging and paper manufacturer, has won European Union approval to buy two mills used to make specialist papers and films in Europe and two processing plants from Loparex Group BV.

The European Commission said in a statement today (21 August) that the transaction would not significantly impede effective competition in the European economic area.

Mondi will acquire mills in Finland and Glossop in the UK, as well as processing units in Poland and Thailand for an undisclosed sum.

The two mills have combined revenue of €140m (£110.8m) from label release papers and packaging paper.

Loparex, which is owned by ABN-Amro Holdings NV, said the sale would allow it to focus on value-added products and expansion in emerging markets.