Paper and packaging group Mondi will sell 25,1% of its interest in Israeli-based Mondi Hadera Paper to its joint-venture partner Hadera Paper Ltd for €10,4-million.
Hadera Paper would then hold a 75% interest in the Israeli company, which owned a 145 000-t/y paper mill, which produced office and printing paper for the local market.
Mondi would retain a 25% interest.
The purchase consideration would be satisfied in cash and would be used to reduce Mondi’s net debt.