Papyrus

Altor Fund II has acquired Stora Enso's merchanting business Papyrus for a total consideration of EUR 640 million. The transaction consideration consists of approximately EUR 490 million in cash, approximately EUR 93 million of net liabilities assumed by Altor, and a vendor note of EUR 57 million.

Papyrus, with net sales of EUR 2,006 million in 2007, is one of Europe’s leading paper merchants, supplying 1.9 million tonnes of paper annually. Papyrus currently has a presence in 22 European countries and employs 3,100 people. Supported by Altor, Papyrus will be able to pursue further growth within both existing and new markets as well as within new product areas.

Pöyry Capital acted as Exclusive Financial Advisor to Altor Equity Partners in the acquisition of Papyrus.