Billerud and Korsnäs to merge
Billerud AB (publ) and Investment AB Kinnevik have announced the combination of Billerud and Korsnäs AB. The new company, BillerudKorsnäs, will become a leading virgin fibre-based packaging materials and packaging solutions company with an annual turnover of approximately SEK 20 billion.
The transaction is subject to approval of relevant competition authorities and shareholders. The current main shareholder in Billerud, FRAPAG Beteiligungsholding AG, supports the merger and has agreed to subscribe for its pro rata share in the rights issue following completion of the transaction. The main shareholders in BillerudKorsnäs upon completion of the transaction will be Kinnevik with a 25.11 percent holding followed by FRAPAG with a 15.7 percent holding.
FRAPAG is advised by Mannheimer Swartling in the transaction. The firm’s team includes partner Patrik Marcelius, senior counsel Anders Lindblad and associates Thérèze Buskas and Therese Lundgren.