Strategic review of Kotkamills’ Imprex® business and the sale of Kotkamills Imprex Oy

Kotkamills Group Oyj

Posted on

31 Oct

2017

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Status:

Closed

Cross-border:

Yes

Deal value:

EUR 27 million

Dittmar & Indrenius > References > Strategic review of Kotkamills’ Imprex® business and the sale of Kotkamills Imprex Oy

We advised Kotkamills Group Oyj on the strategic review of its Imprex® business and the sale of Kotkamills Imprex Oy, a subsidiary producing and selling resin and phenolic resin impregnated products, to Dongwha Enterprise Co.

The transaction involved complex pre-transaction carve-out issues and is one of few transactions, where a Finnish company divests operations to a Korean acquirer.

Kotkamills Group Oyj has on 16 December 2016 and 23 December 2016 published stock exchange releases concerning the strategic review process concerning Kotkamills’ Imprex® business line (the “Imprex Business”). The Imprex Business has since been transferred to Kotkamills Oy’s wholly owned subsidiary Kotkamills Imprex Oy, effective as of 1 September 2017.

In relation to the strategic review process concerning the Imprex Business, Kotkamills Imprex Oy’s sole shareholder Kotkamills Oy has on 12 October 2017 signed a share purchase agreement concerning the sale and purchase of all issued and outstanding shares in Kotkamills Imprex Oy to Dongwha Enterprise Co. The transaction is expected to be completed at the end of October 2017.

The enterprise value (on a debt and cash free basis) of Kotkamills Imprex Oy is EUR 27 million.

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