Asaleo Care sells Australian consumer tissue business to Solaris Paper for $180 million; extends license agreement with Essity
BOX HILL, Australia, Dec. 6, 2018 (Press Release) -Asaleo Care announces $180 million sale of Australian Consumer Tissue business and 5-year extension of License Agreement with Essity
- $180 million sale of Australian Consumer Tissue business
- In principle Agreement to 5-year extension of Trade Mark and Technology License Agreement with Essity to 2027
- The Company will retain its Australasian Personal Care and B2B operations, as well as the Consumer Tissue business in New Zealand and Pacific Islands
- Retained businesses have better margins, lower capital intensity, and strong cash flow
- The sale is expected to improve EBITDA margin and be accretive to Group FY19 EBITDA forecast
- Sale of ...