Mondi tightens hold on Mondi Swiecie

published 11 April 2012

Mondi, the FTSE 250 paper and packaging firm, has reported that its cash public tender offer, made in February and later revised in April, to purchase over 13m in Mondi Swiecie has been successful.

The acquisition of an additional 27.2% of the issued share capital of Mondi Swiecie has raised the firm's total interest in its subdiairy to 93.2%, and has cost Mondi around €235m.

David Hathorn, Mondi Group's Chief Executive Officer: "This acquisition enables us to bring into full ownership a core integrated low cost asset of the Mondi Group and further streamline the corporate structure. The transaction is expected to be earnings accretive from the date of acquisition."