EU approves SCA's acquisition of Georgia-Pacific's European tissue business

Jul 05, 2012. /Lesprom Network/. The European Commission has today, 5 July 2012, approved SCA's acquisition of Georgia-Pacific's European tissue business. The purchase price amounts to EUR 1.32 billion on a debt free basis. The operations have approximately 4,700 employees, as the company said in the press release received by Lesprom Network. The acquisition confirms SCA’s position as a European leader in the industry with an enhanced, integrated European tissue business and well-known brands. Georgia-Pacific’s European tissue business, which comprises of 15 plants located in seven countries and the well-known Lotus brand, will be transferred to SCA´s ownership in connection with the closing of the deal which is expected 20 July. EU´s clearance requires divestment of Georgia-Pacific´s consumer tissue business in the UK including production capacity, Georgia-Pacific´s Benelux consumer tissue branded business under the Lotus brand and some of Georgia-Pacific´s and SCA`s retailer branded business in Scandinavia including production capacity.