Investment funds managed by Oceanwood Capital Management Limited have now acquired 100% of the shares in Norske Skog AS following a lengthy process of regulatory approvals.

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Oceanwood completes acquisition of Norske Skog AS

Investment funds managed by Oceanwood Capital Management Limited have now acquired 100% of the shares in Norske Skog AS following a lengthy process of regulatory approvals. The net purchase price after adjustments was approximately Euro 236 million in cash, as the company said in the press release received by Lesprom Network.

Lars P. S. Sperre, President & CEO of Norske Skog, comments: "With Oceanwood as a new strong owner, the Norske Skog group and our employees now have a unique opportunity to develop our core business and invest in promising new growth projects. We look forward to the cooperation with our new owners in the future. The completion of the sale marks the end of a very long financial restructuring of the formerly debt burdened Norske Skog group and is a new and exciting beginning for all our employees, owners, customers and suppliers. With a good operating environment for the core business and many promising development projects, I am optimistic about the future."

Norske Skog is a leading producer of publication paper with strong market positions in Europe and Australasia.

Oceanwood is an independent investment management firm founded in 2006, located in London and Malta.