Austria’s Mondi Paper Sales reportedly acquires National Paper Products in EGP 500 mn transaction

M&A WATCH- Austria’s Mondi Paper Sales has reportedly acquired the National Paper Products Company for EGP 500 mn, sources said on Sunday. The transaction, which saw Mondi acquire full ownership of the company, closed last week, the sources added. The move comes as Mondi has been increasing its acquisitions in Egypt. The company applied for a mandatory tender offer to acquire the remaining 70.1% stake in Suez Bags back in February. Mondi values the Suez Bags transaction at EGP 199.4 mn.