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Banking & Finance, Capital Markets, M&A & Private Equity / 28 Nov 2016

Borenius represented Madison Dearborn Partners in connection with the successful EUR 315 million tender offer of Powerflute Oyj

We represented Nordic Packaging and Container (Finland) Holdings Oy, an affiliate of Madison Dearborn Partners, LLC (“MDP”), in the public takeover of Powerflute Oyj, a Finnish company traded on the London Stock Exchange’s AIM. The £268 million (EUR 315 million) recommended public cash tender offer was initially announced on 15 September 2016 and thereafter declared unconditional on 14 November 2016 when all necessary antitrust clearances were obtained and the offer was accepted by shareholders who owned more than 90% of the shares and votes in Powerflute Oyj. As Nordic Packaging and Container (Finland) Holdings Oy has over 90% of the votes and shares in Powerflute Oyj, it has the right to redeem the rest of the minority shares in Powerflute Oyj. An application has been submitted to delist Powerflute Oyj from London Stock Exchange’s AIM on or about 13 December 2016.

Borenius is advising MDP and Nordic Packaging and Container (Finland) Holdings Oy on the Finnish aspects of the transaction.

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