Allens acts on tissue deal that's one out of the box
11 November 2011
Allens Arthur Robinson (Allens) has advised the financiers of various Pacific Equity Partners (PEP) funds on a deal that will see those PEP funds form a joint venture with Swedish personal hygiene product producer Svenska Cellulosa Aktiebolaget (SCA) to invest and develop SCA's Australasian operations.
SCA Hygiene Australasia (SCAHA), which employs about 1500 people and has annual sales of about $640 million, is the producer of highly recognisable brands such as Sorbent, Purex and Libra.
Under the deal, which was signed on 4 November, the PEP funds and SCA will each hold a 50 per cent stake in SCAHA.
Allens Partner Mark Kidston, who worked alongside Senior Associate Jo Folan on the matter, said it was pleasing to get the deal across the line in an extremely tight timeframe.
'We've achieved a successful outcome that will assist the parties involved to further develop some of Australia's market-leading personal hygiene and tissue products,' Mr Kidston said.
The acquisition, which is subject to regulatory approval, is expected to be completed by February 2012.
| Allens legal team | Mark Kidston (Partner – Sydney), Niranjan Arasaratnam (Partner – Melbourne), Jo Folan (Senior Associate – Sydney), Katherine Chandler (Lawyer – Melbourne), Peiwen Chen (Lawyer – Melbourne), Nikki Macor (Lawyer – Melbourne) |
Ends
For further information, please contact:
- Susan CowenCommunications Coordinator,
Melbourne
Ph: +61 3 9613 8374
Susan.Cowen@allens.com.au
Notes for editors.
Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.