In South Africa, Sappi Limited, a leading global producer of dissolving wood pulp, speciality and packaging papers, graphic (printing and writing) paper and biomaterials, signed an agreement to acquire the speciality paper business of Cham Paper Group Holding AG (CPG) for CHF146.5 million (approximately $149 million).
The transaction includes the acquisition of CPG’s Carmignano and Condino Mills in Italy, its digital imaging business located in Cham, Switzerland as well as all brands and know-how. It will be funded through internal cash resources. The transaction is conditional on the approval from certain competition authorities. The acquisition is expected to be completed during the first calendar quarter of 2018.