Chinese paper maker to acquire Sweden’s Nordic Paper

China: Chinese paper manufacturer Anhui Shanying Paper Industry Co. is about to acquire a Swedish paper maker Nordic Paper Holding AB at a price of $353 million.

Looking to enter the premium special paper market, Shanying Paper’s Swedish subsidiary, Goldcup 15172 AB, has signed an equity purchase agreement with Nordic Paper’s two shareholders to acquire all its equity for $353 million, reports Yicai Global.

Nordic Paper operates four paper mills, three in Sweden and one in Norway, producing greaseproof and kraft paper.

Source: Yicai Global