Sylvamo Corporation announced it has received a binding offer from Midas Atlantic Partners to acquire its European business. The deal is structured for Sylvamo to transfer the business in exchange for the right to receive 20% of its future distributions, rather than an upfront payment. The divestiture is a strategic move to create a more focused company.
Key Details
- Acquirer: Midas Atlantic Partners, in partnership with The Najafi Companies.
- Terms: Sylvamo will receive a 20% stake in future distributions of the divested business in exchange for transferring the assets with an agreed level of working capital and cash.
- Assets Included: The sale comprises the company's uncoated freesheet paper mills in Saillat, France, and Nymolla, Sweden, along with forestry and supporting operations.
- Timeline & Conditions: The transaction is subject to consultations with employee works councils and is expected to close by the end of the first quarter of 2027.