Mondi Group, the paper and packing company with dual listings in London and Johannesburg, has acquired a remaining stake in Mondi Swiecie to take full control of the Polish subsidiary.
On May 18th, Mondi bought the remaining 3,407,257 shares in Mondi Swiecie that it did not already own, following the completion of an all-cash public tender offer during April.
Mondi's stake in Mondi Swiecie has now been raised from 93.2% to 100.0%.
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Mondi paid 245m Polish zloty (€59m). The aggregate consideration paid by the Mondi for those shares representing 34% of the share capital of Mondi Swiecie which it did not already own before making the Offer, was PLN1.2bn(€294m).
"Mondi Group will commence the procedure aimed at the delisting of Mondi Swiecie's shares from the Warsaw Stock Exchange," the firm said.
Mondi manufactures a wide range of paper and packaging products, including office paper, corrugated packaging and industrial bags.
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