First Eagle Funds and the Spanish group S.A. Industrias Celulosa Aragonesa (“SAICA”) announce that certain of the First Eagle funds for U.S.-based investors and SAICA have entered into exclusive negotiations in the context of the envisaged sale of the Emin Leydier group.
A French producer and a European player in the production of corrugated paper and packaging, the Emin Leydier group operates eight industrial sites in France. Certain First Eagle Funds have held approximately 53% of the capital of the Emin Leydier group since 2009. Over the past few years, the Emin Leydier group has consolidated its position by focusing on product quality, innovation and industrial performance. It generated revenues of 356 million euros in 2016.
The envisaged transaction is subject to consultation with the Emin Leydier group employee representative bodies and approval from the EU competition authority.