South African paper firm Mondi Group has sold its 50 percent stake in its money-losing UK newsprint business to private equity firm Martland Holdings, and would likely see a loss of 71 million euros on the deal.
South African paper maker Mondi said on Friday it would pay 125 million euros in cash for Duropack's operations in Germany and the Czech Republic to strengthen its corrugated packaging market position in Europe.
South African paper maker Mondi Group secured European Union regulatory approval on Thursday for its $782 million purchase of German packaging company Nordenia that will boost its presence in consumer packaging.
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