Mondi plc (LSE:MNDI) entered into an agreement to acquire 90.4% stake in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.S. (IBSE:OLMIP) from International Paper Company (NYSE:IP) for €66 million on January 5, 2021. Following the completion of the transaction, Mondi will launch a mandatory tender offer to acquire the remaining 9.62% of outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret held by minority shareholders. The transaction is subject to competition clearance, certain closing conditions and regulatory approvals and is expected to close in the first half of 2021. Barclays PLC (LSE:BARC) acted as financial advisor to Mondi plc (LSE:MNDI). Eren Kursun, Caner Elmas, Muhsin Keskin, Serenay Çinki, Berk Cin, Emrehan Mermer of Baker & McKenzie LLP acted as legal advisors to Mondi plc.

Mondi plc (LSE:MNDI) completed the acquisition of 90.4% stake in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.S. (IBSE:OLMIP) from International Paper Company (NYSE:IP) on May 31, 2021. All conditions have been satisfied.