JPP offered a takeover price of EUR 25 million, based on an enterprise value of EUR 73.1 million. The takeover bid also indirectly included all shares in the trading company JJ Loos, Inapa had acquired JJ Loos two years ago.
Sep 25, 2024
Japan‘s paper trading company, Japan Pulp and Paper (JPP), has submitted a binding proposal worth EUR 25 million on September 24, 2024, to buy all shares of Inapa Group.
According to an insolvency administrator’s report published by Inapa, the takeover bid further indirectly included all shares in the trading company JJ Loos, specializing in the sale of printing machines and consumables for visual communication. Inapa had acquired JJ Loos two years ago.
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JPP said it may also consider to include in the transaction perimeter assets in Portugal, the shared services centre and trademark rights, should the size of its takeover bid not be sufficient to reach the next stage in the potential takeover process.
As per the report, JPP offered a takeover price of EUR 25 million, based on an enterprise value of EUR 73.1 million. However, the signing and completion of the transaction is conditional as the takeover bid is being considered as part of the asset sale process in Germany for the final phase of negotiations. The potential takeover would take place via a subsidiary of JPP.
The insolvency administrator stated in his report that JPP’s takeover bid resulted in a higher enterprise value and equity value than other proposals received for the same assets, and did not conflict with the perimeter of the transaction proposed by Next Pack.
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He proposed a period of 30 days for exclusive negotiations with JPP and, after reviewing the terms, acceptance of the offer by the creditors’ meeting.
