Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

COMP/M.6682

SECTION 1.2

Description of the concentration

Investment AB Kinnevik ("Kinnevik") intends to acquire 25% of Billerud AB ("Billerud") as part of the consideration for the sale to Billerud of Kinnevik's wholly owned subsidiary Korsnäs AB ("Korsnäs"), thereby giving Kinnevik sole control over Billerud within the meaning of Article 3(1)(b) of the EUMR (the "Concentration").

The parties' activities are as follows:

− Kinnevik – holding company with equity interests in various companies in different business segments, including Korsnäs, a manufacturer of fibre-based packaging material;

− Billerud – manufacture of fibre-based packaging material and market pulp.

The rationale for the Concentration lies in the advantages which are expected to accrue from the combination of Billerud's and Korsnäs' largely complementary businesses in fibre packaging material in terms a broader product offering, future growth and product development and material cost savings.