Smurfit Kappa says CVC, Cinven, MDCP sell stake.
Irish paper packaging specialist Smurfit Kappa (ISE:SKG) on Thursday said that private equity firms CVC, Cinven and Madison Dearborn Capital Partners (MDCP) have sold a total 25m of its shares to institutional investors at EUR8.50 (USD11.60) apiece.
Following the disposal, Smurfit Kappa Feeder, owned by Cinven and CVC, holds 18.1% in SKG, while MDCP has 15.9%.
The placing was managed by Credit Suisse Securities (Europe), SKG said.
The vendors have agreed to keep their remaining SKG stock for a period of 90 days.Country: , IrelandSector: Paper/Packaging/Office SuppliesTarget: Smurfit Kappa Group plc (SKG)Buyer: Institutional investorsVendor: CVC Capital Partners Limited, Madison Dearborn Capital Partners (MDCP), Cinven Group Limited Deal size in USD: 290mType: DivestmentStatus: ClosedComment: Deal size refers to the value of combined stake sold.
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|Publication:||M & A Navigator|
|Date:||Feb 10, 2011|
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