Smurfit family to receive €4m Finnish windfall
Powerflute, the paper company controlled by the Smurfit family, is in line to earn around €4 million as it sells out of a Finnish paper mill.
The Smurfit company holds a 10 per cent stake in Kotkamills, a Finland-based forest products company, which is set to be bought by local private equity firm MB Funds for around €40 million.
MB Funds is currently looking to raise €105 million through a senior secured bond issue to acquire all of the shares in Kotkamills, which is 90 per cent owned by global equity firm OpenGate Capital.
OpenGate Capital, in partnership with Powerflute, bought the company...
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