EU approves Ahlstrom and Munksjö merger
The European Commission (EU) has today approved the merger between Ahlstrom Corporation and Munksjö Oyj. Ahlstrom and Munksjö have now received all pre-closing competition approvals required for completing the merger. The merger is currently expected to be completed on or about April 1, 2017 and is subject to certain customary conditions.
The completion of the merger is subject to the availability of financing and the absence of events that would have a material adverse effect on either company among other things, said Ahlstrom in a press release.
Ahlstrom and Munksjö have agreed to distribute funds to their respective shareholders prior to the completion of the merger in the amount of approximately €23 million each, corresponding to €0.49 per share in Ahlstrom and €0.45 per share in Munksjö.
The Boards of Directors of Ahlstrom and Munksjö intend to resolve on the distributions on or about March 16, 2017. If the distributions are resolved upon on March 16, 2017, their record date would be March 20, 2017 and payment date March 27, 2017.
Ahlstrom provides innovative fibre-based materials with a function in everyday life. It is committed to growing and creating stakeholder value by proving the best performing sustainable fibre-based materials. (KD)
Fibre2Fashion News Desk – India