EANS-Adhoc: Mayr-Melnhof Karton to acquire Kotkamills EAE

12/9/2020, 11:04 PM (Source: euro adhoc)
  Disclosed inside information pursuant to article 17 Market Abuse Regulation
  (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
  The issuer is responsible for the content of this announcement.

Proposed acquisition to strengthen MMK’s position in virgin-fiber based

Mergers - Acquisitions - Takeovers

Vienna - Mayr-Melnhof Group has agreed to acquire Kotkamills Group Oyj
("Kotkamills") from its shareholders for an Enterprise Value of around EUR 425
million, representing ca. 7.8x LTM EBITDA. The addition of Kotkamills will grow
MMK's position in the attractive virgin fiber based cartonboard (FBB) and Food
Service Board (FSB) market, complementing its established position in recycled
fiber based board. The proposed transaction will be immediately accretive to

Kotkamills operates two board / paper machines at its integrated mill in Kotka
(Southern-Finland): a FBB/FSB board machine which started up in 2016 following
an investment of more than EUR 180 million with current sales volumes of around
260kt and a planned capacity of 400kt; a Saturated Kraft paper machine with
170kt capacity in which the company is a leading global supplier. Kotkamills
employs about 500 people and generate an LTM EBITDA of ca. EUR 55 million on
sales of ca. EUR 380 million.

The cash payment will be funded from committed credit lines. The transaction is
subject to customary completion conditions and regulatory approval. Closing of
the transaction is expected by mid of 2021.

Further inquiry note:
Stephan Sweerts-Sporck
Investor Relations
Mayr-Melnhof Karton AG, Brahmsplatz 6
A-1040 Vienna, Austria
Tel.: (+43/1) 50136 - 91180
Fax: (+43/1) 50136 - 91195
e-mail: investor.relations@mm-karton.com
Website: http://www.mayr-melnhof.com

end of announcement                         euro adhoc

issuer:       Mayr-Melnhof Karton AG
              Brahmsplatz 6
              A-1040 Wien
phone:        +43 1 50 136
mail:         investor.relations@mm-karton.at
WWW:          www.mayr-melnhof.com
ISIN:         AT0000938204
indexes:      ATX, ATX PRIME
stockmarkets: Wien
language:     English

EAX0008    2020-12-09/23:04

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