Mayr-Melnhof Karton AG / AT0000938204

Mayr-Melnhof Karton AG: MM to sell TANN Group

EQS-Ad-hoc: Mayr-Melnhof Karton AG / Key word(s): Disposal


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.

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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

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18-Dec-2024 CET/CEST News transmitted by EQS Group. www.eqs.com

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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:	[e-mail]
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

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2054173  18-Dec-2024 CET/CEST