Discount Retail Chain Lidl's sister company Schwarz Produktion has received the green light, by the European Commission, for the acquistion of Stora Enso's Maxau magazine paper mill by PHO P, a newly founded company owned by Schwarz Produktion. The deal worth €210m was announced in mid-September and the Commission was notified of the proposed takeover in late October this year.
According to the Commission, the transaction was examined under the simplified merger review. The Commission cleared the transaction concluding that "the proposed acquisition would raise no competition concerns, given the limited vertical links between the companies' activities."
The Maxau mill in Karlsruhe, Germany runs two paper machines with an installed production capacity of up to 530,000 tpy of supercalendered (SC) paper.
Schwarz is mainly active in food retailing in over 30 countries through its retail chains Lidl and Kaufland. Through its subsidiary Prezero, the group is also active in the collection, recycling and commercialisation of recovered paper and other secondary raw materials. Schwarz Produktion is one of Germany's leading food producers, producing beverages, baked goods, chocolate, dried fruit, ice cream and coffee for various private labels of the Schwarz Group's trading companies.
See here for more: EC clears takeover of Stora Enso Maxau paper mill by Schwarz group (euwid-paper.com)
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