Fiber-based materials provider Ahlstrom has announced the demerger of its label and processing business in Brazil in order to integrate it with Munksj.
As part of the move, 12,291,991 new shares in Munksj? Oyj were offered under the demerger consideration to Ahlstrom's shareholders in the Coated Specialties demerger.
Under the integration agreement, both the companies have agreed to the effects of certain supplier finance arrangements on the transaction, while Ahlstrom will pay €9.5m to the reserve for invested unrestricted equity of Munksj
Ahlstrom president and CEO Jan L?ng said the company is pleased that the major undertaking is now complete.
"We can now put all our efforts into executing Ahlstrom's new growth strategy, which we have built during this year," Lng added.
"Our first and foremost priority is to improve profitability and to seek and win new business based on the current platform now established."
The demerger is considered to be the final step in the process of combining Ahlstrom's Label and Processing business with Munksj.
