Antalis was informed of the signing of a binding ‘put option’ agreement on 31 March 2020 by Kokusai Pulp & Paper Co., Ltd., the paper distributor in Japan, Asia and Australia, to purchase all the shares held by Sequana, Antalis’ majority shareholder, representing 75.2% of the share capital and 82.5% of the voting rights, at the price of €0.10 per share. Antalis was also informed that KPP and Bpifrance Participations signed a share purchase agreement on 31 March 2020 to which KPP would purchase all the shares held by Bpifrance Participations, representing 8.5% of the share capital and voting rights of Antalis, at a price of €0.40 per share, subject only to the transfer of the shares held by Sequana to KPP.
KPP is a leading Japanese paper distribution group with operations in Japan, Asia and Australia, with sales of approximately €3.2bn.
Antalis’ Board of Directors met on 30 March 2020 and welcomed the planned combination with KPP, marking the successful conclusion of Antalis’ search for a new shareholding structure aimed at supporting the implementation of its strategic plan.
The acquisition of Antalis by KPP is expected to create a leading distributor of paper, packaging and visual communication on four continents – Asia, Europe, Australia and Latin America. The newly formed Group should represent an annual turnover of approximately €5.3bn, including 3.3 million tons of paper sold.
Hervé Poncin, CEO of Antalis, commented, “Antalis, its management and employees are pleased with this combination with KPP which will allow it to open a new chapter in its international evolution. It will provide Antalis with the necessary means to support its development and strengthen its market position.”
Pascal Lebard, Chairman of the Board of Antalis, commented, “Antalis’ Board of Directors has favourably welcomed KPP’s backing which should enable the company to have a long-term shareholder that will support its future development.”
