PRESS RELEASE: Mayr-Melnhof: Eqs-Adhoc: Mm To Sell Tann Group

Dow Jones12-19
EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Disposal 
Mayr-Melnhof Karton AG: MM to sell TANN Group 
18-Dec-2024 / 20:54 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation $(EU)$ No 596/2014, transmitted by EQS News 
- a service of EQS Group. 
The issuer is solely responsible for the content of this announcement. 
----------------------------------------------------------------------------------------------------------------------- 
Mayr-Melnhof Karton AG (MM) has agreed with Evergreen Hill Enterprise, Pte. Ltd., part of an Indonesian-based privately 
held group of diversified companies, on the sale of 100 % of the shares in TANN Group, headquartered in Traun, Austria, 
for a cash and debt-free enterprise value of EUR 360 million. 
TANN Group prints on and finishes externally sourced fine paper to produce tipping paper. As the business is unrelated 
to cartonboard and consumer packaging, MM has decided to sell it. TANN Group generates annual sales of approximately 
EUR 220 million. TANN comprises 7 production sites in Austria, China, the Philippines, Turkey, Canada and Germany and a 
global workforce of around 730 employees, who will join Evergreen Hill Enterprise, Pte. Ltd.. 
The sale offers MM the opportunity to further strengthen and expand the position in its core consumer packaging 
business. 
The transaction, which is subject to usual completion conditions and regulatory approvals, is expected to be closed in 
the first quarter of 2025. 
End of Inside Information 
----------------------------------------------------------------------------------------------------------------------- 
18-Dec-2024 CET/CEST News transmitted by EQS Group. www.eqs.com 
----------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Mayr-Melnhof Karton AG 
              Brahmsplatz 6 
              1040 Wien 
              Austria 
Phone:        0043 1 501 36 91180 
Fax:          0043 1 501 36 91391 
E-mail:       investor.relations@mm.group 
Internet:     www.mm.group 
ISIN:         AT0000938204 
WKN:          93820 
Indices:      ATX 
Listed:       Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Munich, Stuttgart, Tradegate Exchange; 
              Vienna Stock Exchange (Official Market) 
EQS News ID:  2054173 
 
End of Announcement  EQS News Service 
------------- 

2054173 18-Dec-2024 CET/CEST

 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2054173&application_name=news&site_id=dow_jones%7e%7e%7e43f1f857-252a-44a4-bbde-f4a32f6a5492

 

(END) Dow Jones Newswires

December 18, 2024 14:56 ET (19:56 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment