“The sale corresponds to and is part of Mayr-Melnhof’s strategy of concentrating on new acquisitions and growth investments,” said the broadcast. There will be a consultation process with employee representatives about the sale. The transaction, “which is subject to certain closing conditions and regulatory approvals, including in relation to MM’s recent acquisitions,” is expected to close in the third quarter of 2021. Oaktree intends to invest in the business development of the plants.
The sale offers MM the opportunity to “realize significant cash proceeds for further growth,” writes Peter Oswald, CEO of the MM Group, in the broadcast. Over the years, Oaktree has invested in several packaging manufacturers in Europe and believes “that the FBB market offers attractive future growth and innovation opportunities,” writes Hermann Dambach, Managing Director, European Principal Group. Oaktree has $ 153 billion in assets under management.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
