BillerudKorsnäs to acquire Verso

BillerudKorsnäs has entered into a merger agreement with Verso Corp, under which BillerudKorsnäs has agreed to acquire Verso, a producer of coated papers in North America, for a purchase price of approximately $825m in cash.

Verso’s Board of Directors, acting upon the recommendation of a special committee, has unanimously approved, and resolved to recommend the transaction to Verso’s shareholders. The transaction is expected to close in the second quarter of 2022.

“The combination of BillerudKorsnäs’ expertise in high-quality virgin fiber packaging materials and Verso’s attractive assets creates an excellent platform for long-term profitable growth. We will obtain cost-effective production of coated virgin fiber material in the Midwestern United States. We also plan to sequentially transform part of the business into paperboard production while continuing to serve the U.S. customers. Our investments will create new US-based jobs in a growing market and accelerate the transition from plastic-based packaging materials to renewable sources,” said Christoph Michalski, President and CEO of BillerudKorsnäs.

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