NEW YORK, NY, July 22, 2022 - Mercer International Inc. (Nasdaq: MERC) (“Mercer“, the “Company“, “we“, “our“) today announced that it has entered into an agreement to acquire all of the outstanding shares of the parent company of HIT for consideration of €270 million, inclusive of forecasted net working capital of approximately €43 million (the “Transaction“).
HIT owns, among other things, 100% of a timber processing and value-add pallet production facility in Torgau, Germany (the “HIT Facility“) and a wood processing facility in Dahlen, Germany that produces garden products.
The Transaction is subject to customary closing conditions, including receipt of requisite regulatory anti-trust approvals. The Transaction is expected to close in the third or early fourth quarter of 2022.
Sangra Moller LLP acted as legal advisor for Mercer.
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Source: Mercer International