EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Disposal
Mayr-Melnhof Karton AG: MM to sell TANN Group
18-Dec-2024 / 20:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group.
The issuer is solely responsible for the content of this announcement.
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Mayr-Melnhof Karton AG (MM) has agreed with Evergreen Hill Enterprise,
Pte. Ltd., part of an Indonesian-based privately held group of diversified
companies, on the sale of 100 % of the shares in TANN Group, headquartered
in Traun, Austria, for a cash and debt-free enterprise value of EUR 360
million.
TANN Group prints on and finishes externally sourced fine paper to produce
tipping paper. As the business is unrelated to cartonboard and consumer
packaging, MM has decided to sell it. TANN Group generates annual sales of
approximately EUR 220 million. TANN comprises 7 production sites in
Austria, China, the Philippines, Turkey, Canada and Germany and a global
workforce of around 730 employees, who will join Evergreen Hill
Enterprise, Pte. Ltd..
The sale offers MM the opportunity to further strengthen and expand the
position in its core consumer packaging business.
The transaction, which is subject to usual completion conditions and
regulatory approvals, is expected to be closed in the first quarter of
2025.
End of Inside Information
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18-Dec-2024 CET/CEST News transmitted by EQS Group. www.eqs.com
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Language: English
Company: Mayr-Melnhof Karton AG
Brahmsplatz 6
1040 Wien
Austria
Phone: 0043 1 501 36 91180
Fax: 0043 1 501 36 91391
E-mail: investor.relations@mm.group
Internet: www.mm.group
ISIN: AT0000938204
WKN: 93820
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Basic
Board), Munich, Stuttgart, Tradegate Exchange; Vienna Stock
Exchange (Official Market)
EQS News ID: 2054173
End of Announcement EQS News Service
2054173 18-Dec-2024 CET/CEST
