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Ahlstrom Oyj Signs Agreement to Divest Pre-Impregnated Decor Paper and Abrasive Businesses to Perusa

Friday, 18 Oct 2013 09:50am EDT 

Ahlstrom Oyj announced that the Company has signed an agreement to divest its pre-impregnated decor papers and abrasive paper backings businesses to Perusa, a German-based private equity group. At completion of the transaction, the ownership base of the divested businesses will be broadened to also include the current management of the sold business. The divestment is made to comply with the commitments made to the European Commission and to the Brazilian competition authority CADE as disclosed in May 2013. The enterprise value of the transaction is approximately EUR 20 million. Under the agreement, Ahlstrom's pre-impregnated decor paper and abrasive paper backings businesses in Osnabruck, Germany, will be transferred to an entity held by Perusa Partners Fund 2, LP, a private equity firm advised by Munich-based Perusa GmbH. The parties have also formed a joint venture to operate the power plant and the water facilities for the site. Ahlstrom will book a write-down of approximately EUR 6 million in the third quarter of 2013 as a result of the agreement. The completion of the transaction is subject to certain closing conditions, such as the European Commission's approval of the buyer and the agreements between Ahlstrom and the buyer. The transaction is expected to be completed during the first quarter of 2014, at the latest. 

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