STOCK EXCHANGE RELEASE 23 Dec 1999
JAAKKO PÖYRY GROUP M&A ARM CLOSES ITS FIRST TRANSACTION
Gelderse Papiergroup, the Dutch specialty paper producer, has announced on December the 22, 1999 that it is in advanced negotiations to sell its security paper subsidiary to Arjo Wiggins. JP Capital International Ltd, the investment banking arm of the Jaakko Pöyry Group, has been retained by Gelderse Papiergroup as its advisor for this transaction.
VHP Security Papermill (Netherlands), a manufacturer mainly of banknote paper, has a turnover of approx. EUR 22 million.
"The consolidation process in the Forest Products Industry, in particular in the specialty paper sector will gather pace, and there will be many more transactions in the forthcoming year", comments Bengt Hammar, President and CEO of JP Capital International Ltd.
JP Capital International started its operations in April 1999. It is an integral part of Jaakko Pöyry Consulting and assists Forest Products and Packaging companies in the implementation of acquisitions, divestitures and restructuring activities.
JAAKKO PÖYRY GROUP OYJ
For further information, please contact:
Bengt Hammar, President & CEO, JP Capital International Ltd, London, Tel: +44 171 479 4001, +44 589 055 637
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