Mondi completes acquisition of NPP

M&A WATCH- Mondi completes acquisition of NPP: London- and Johannesburg-listed Mondi Group has completed the acquisition of 100% of Egyptian industrial bags maker National Company for Paper Products (NPP) for EUR 24 mn (EGP 510 mn), Mondi said in a press release on Wednesday. “We are excited to have completed this acquisition, which complements our existing network in the growing Middle East region and allows us to grow our business and better serve our customers,” said Mondi’s Fibre Packaging CEO Erik Bouts. Mondi has been working to expand its presence in Egypt and is reportedly close to acquiring the remaining 70.1% stake in the Suez Bags company in a transaction valued at EGP 300-400 mn.