JOHANNESBURG, July 11 (Reuters) – Shares of South Africa’s
Mondi Ltd fell more than 3 percent at the start of
trade on Wednesday, before recouping losses, after the South
African paper maker said it would buy German firm Nordenia
International in a $782 million deal.
Mondi said it will pay 240 million euros in cash and take on
Nordenia’s 398 million euros worth of debt, valuing the entire
deal at 638 million euros ($783 million).
Shares of Mondi were down 0.9 percent at 70.68 rand, at 0714
GMT, after earlier falling more than 3 percent.
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