{"id":15169,"date":"2012-10-02T17:27:02","date_gmt":"2012-10-02T15:27:02","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-mondi-sells-stake-in-money-losing-uk-newsprint-firm\/"},"modified":"2012-10-02T17:27:02","modified_gmt":"2012-10-02T15:27:02","slug":"update-1-mondi-sells-stake-in-money-losing-uk-newsprint-firm","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-mondi-sells-stake-in-money-losing-uk-newsprint-firm\/","title":{"rendered":"UPDATE 1-Mondi sells stake in money-losing UK newsprint firm"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Sees loss of 71 mln euros<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Svenska Cellulosa also sells stake<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 2 (Reuters) &#8211; South African paper firm<br \/>\nMondi Group has sold its 50 percent stake in its<br \/>\nmoney-losing UK newsprint business to private equity firm<br \/>\nMartland Holdings, and would likely see a loss of 71 million<br \/>\neuros on the deal.<\/p>\n<p><span><\/span><\/p>\n<p>Mondi, which is focusing more on fast-growing<br \/>\nbusinesses such as consumer packaging, said in a statement on<br \/>\nTuesday it had sold its stake in Aylesford Newsprint Holdings, a<br \/>\nsupplier of newsprint to major British newspapers.<\/p>\n<p><span><\/span><\/p>\n<p>Swedish firm Svenska Cellulosa has also sold its<br \/>\nhalf of the business to Martland, Mondi said.<\/p>\n<p><span><\/span><\/p>\n<p>Mondi said the sale was for a &#8220;nominal sum&#8221; and it would<br \/>\nbook a loss of about 71 million euros on the transaction, with a<br \/>\nnegative cash flow impact of 17 million euros.<\/p>\n<p><span><\/span><\/p>\n<p>Mondi said in July it would buy German packaging firm<br \/>\nNordenia International from Oaktree Capital in a $782<br \/>\nmillion deal to give it a bigger presence in packaging for<br \/>\neverything from pet food to chocolate bars.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of the company were little changed at 83.75 rand in<br \/>\nJohannesburg trade at 1355 GMT.<\/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>* Sees loss of 71 mln euros * Svenska Cellulosa also sells stake JOHANNESBURG Oct 2 (Reuters) &#8211; South African paper firm Mondi Group has sold its 50 percent stake in its money-losing UK newsprint business to private equity firm Martland Holdings, and would likely see a loss of 71 million euros on the deal. [&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-15169","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\/15169","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=15169"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}