AssiDomän och Frantschach sign Letter of Intent
AssiDomän and Frantschach sign Letter of Intent AssiDomän AB and Frantschach AG have signed a Letter of Intent concerning a cash sale of Barrier Coating and Sacks & Kraft Products, excluding Karlsborg and Skärblacka mills. The units involved are the Dynäs and Sepap paper mills, sack converting and the Barrier Coating operations. The proposed transaction is in line with AssiDomän´s announcement from last year to focus and concentrate the operations, which should lead to the creation of greater shareholder value. The proposed sale involves businesses with a proforma combined turnover of about MEUR 650. The transaction is now subject to a period of due diligence and negotiations about a final agreement. It is expected that this process will be finalised during the spring, after which a final sale agreement could be signed. Further details about the transaction will then be communicated. Frantschach is advised by JP Capital and AssiDomän is advised by Lansdowne Capital and Carnegie. AssiDomän AB Corporate Communications 3 February 2000 For further information: AssiDomän AB, Tel. +46 8 655 90 00 Gunnar Palme, CEO Berit Hallberg, Corporate Communications Frans Benson, Investor Relations Frantschach AG, Tel. +43 1 79507 4000 Veit Sorger, CEO AssiDomän is one of Europe's leading forest products companies with 17,000 employees and an annual turnover of MEUR 2,800. Production is concentrated on packaging paper, packaging and sawn timber products. Frantschach is a major producer of industrial sacks, kraft-paper and flexible packaging as well as high quality office papers and a leading paper-merchant in Central Europe. Its head office is in Austria. Annual turnover amounts to MEUR 1,500. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/03/20000203BIT00240/bit0001.pdf http://www.bit.se/bitonline/2000/02/03/20000203BIT00240/bit0002.doc