Inapa has signed a share purchase agreement for the purchase, from Papyrus AB, of 100% of the share capital of Papyrus France Holding SAS, which is, together with its wholly owned subsidiary, Groupe Papyrus France SAS, involved in the business of wholesale and distribution of paper to professionals in France. In 2015, Group Papyrus France had a turnover of Euro 156 million.
Simultaneously, Inapa and its subsidiary Papier Union GmbH have signed a share purchase agreement for the sale, to Papyrus AB, of 100% of the share capital of Inapa Schweiz AG, which is involved in the business of wholesale and distribution of paper to professionals in Switzerland. In 2015, Inapa Schweiz had a turnover of Euro 52 million.
Inapa and Papyrus AB, under these cross-transactions, have agreed to exchange their shares, with no cash consideration being involved on the transactions. Both share purchase agreements had all their conditions precedent met, including the approval from French Competition Authorities, and were executed, being the respective shares transferred.
With these transactions, Inapa expects to increase its overall turnover, strengthen its market position in France, one of the biggest European markets, and achieve operational synergies through the coordination of Papyrus and Inapa current operations in France.
