Papermart
News

Oceanwood Takes Over Norwegian Press Paper Maker Norske Skog

The adjusted net purchase price for 100 precent of the shares in Norske Skog AS amounts to approximately EUR 236m.

October 8, 2018
news ocean woodOceanwood Capital Management Limited has completed the acquisition of 100 percent percent of shares in Norske Skog AS. The acquisition of the Norwegian press paper manufacturer is carried out by Oceanwood Special Situations Malta Limited, a wholly owned subsidiary of Oceanwood Opportunities Master Fund, and its 100 percent owned special purpose vehicle NS Norway Holding AS.
The adjusted net purchase price for 100 precent of the shares in Norske Skog AS amounts to approximately EUR 236m of which EUR 231m is expected to be distributed to the holders of the EUR 290m senior secured notes due 2019 (SSNs) and the lenders under the EUR 16m liquidity facility (Liquidity Facility) shortly after closing, the company announced.
Norske Skog is a leading producer of publication paper with strong market positions in Europe and Australasia. The Norske Skog group is the third largest manufacturer in Europe and the only manufacturer in Australia and New Zealand.
Norske Skog owns seven profitable paper mills, strategically located near attractive markets. Total paper production capacity is 2.7 million tons, of which 1.8 million tons are newsprint and 0.9 million tons are magazine paper (super calandered and light weight coated).

Papermart