Coniferous Bidco AB, an affiliate of Strategic Value Partners (SVP), has initiated compulsory redemption of the remaining shares in Nordic Paper Holding AB after surpassing 90% ownership.
In response, Nordic Paper’s board of directors has resolved to apply for de-listing from Nasdaq Stockholm.
SVP, through Coniferous Bidco, first launched a cash offer in October 2024 to acquire all outstanding shares of Nordic Paper at SEK 50 per share. The offer was declared unconditional in December 2024, giving Coniferous Bidco control of about 85.7% of the company. Through continued acquisitions, Coniferous Bidco now holds more than 90% of shares and votes.
According to the announcement, Nordic Paper will notify minority shareholders of the redemption request. Shareholders will have two weeks to indicate if they wish to bring their own action and appoint a joint arbitrator. If they do not, the company will apply to the Swedish Companies Registration Office for a trustee to safeguard their interests and appoint an arbitrator.
The board will also convene an extraordinary general meeting at Coniferous Bidco’s request to elect a new board member and chairman. The last trading day for Nordic Paper shares on Nasdaq Stockholm will be announced once confirmed by the exchange.
Founded in the 19th century, Nordic Paper is a leading producer of specialty papers, including kraft and natural greaseproof grades, based on renewable raw materials from Scandinavian forests. The company operates five mills — four in Scandinavia and one in Canada — and supplies customers in more than 80 countries. In 2024, Nordic Paper reported net sales of SEK 4,668 million and employed about 700 people.
