{"id":14064,"date":"2012-08-30T15:27:45","date_gmt":"2012-08-30T13:27:45","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/s-africa-mondis-buy-of-oaktree-asset-approved-in-eu\/"},"modified":"2012-08-30T15:27:45","modified_gmt":"2012-08-30T13:27:45","slug":"s-africa-mondis-buy-of-oaktree-asset-approved-in-eu","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-mondis-buy-of-oaktree-asset-approved-in-eu\/","title":{"rendered":"S.Africa Mondi&#8217;s buy of Oaktree asset approved in EU"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">BRUSSELS<\/span> Aug 30 (Reuters) &#8211; South African paper maker Mondi<br \/>\nGroup secured European Union regulatory approval on<br \/>\nThursday for its $782 million purchase of German packaging<br \/>\ncompany Nordenia that will boost its presence in consumer<br \/>\npackaging.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Mondi has said the deal would result in 15 million euros in<br \/>\nannual pre-tax cost synergies. The seller is private equity firm<br \/>\nOaktree Capital.<\/p>\n<p><span><\/span><\/p>\n<p>Nordenia makes more than 90 percent of its revenues from the<br \/>\npackaging and components of consumer products such as pet food,<br \/>\ndiapers and chocolate bars. It has operations across Europe,<br \/>\nNorth America and Asia, but draws nearly 60 percent of its sales<br \/>\nfrom Western Europe.<\/p>\n<p><span><\/span><\/p>\n<p>The European Commission said the deal would not hurt<br \/>\ncompetition.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The Commission&#8217;s investigation showed that the merging<br \/>\nparties would have a relatively limited combined market position<br \/>\nand that a sufficient number of alternative suppliers remain on<br \/>\nthe markets concerned,&#8221; the EU watchdog said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BRUSSELS Aug 30 (Reuters) &#8211; 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. Mondi has said the deal would result in 15 million euros in annual pre-tax cost synergies. The seller is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14064","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14064"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14064\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}