MCF advises Metsä Board Corporation in the divestment of Oy Hangö Stevedoring Ab to Euroports Finland Oy
Metsä Board Corporation, a leading European producer of premium fresh fibre paperboards, has signed an agreement to sell its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy. Hangö Stevedoring is a port operator in the Port of Hanko with approx. 180 employees and sales of approx. EUR 20 million in 2020.
The transaction sharpens Metsä Board’s strategic focus as the divested company is not part of Metsä Board’s core business. The transaction is expected to be completed in the first quarter of 2022 and the parties have mutually agreed that the transaction price will not be disclosed.
MCF acted as the financial adviser to Metsä Board in the sale process.
The Deal
Euroports Finland Oy, part of Euroports Group, is Finland’s leading full-service port operator with locations in Rauma and Pietarsaari. The transaction enables Euroports to improve its strategic position in Finland and in the Baltic region as well as strengthens its service offering and local coverage in Finland.
The Target
Founded in 1912, Hangö Stevedoring is a Finnish port operator providing cargo handling services in the port of Hanko, which is the southernmost port in Finland. In 2020, Hangö Stevedoring generated revenue of approx. EUR 20m with approx. 180 employees.
About Metsä Board Corporation
Metsä Board is a leading European producer of premium fresh fibre paperboards and a forerunner in sustainability. In 2020, its annual sales totalled EUR 1.9bn. Metsä Board is part of Metsä Group, one of the largest forest industry groups in the world. Metsä Board’s share is listed on NASDAQ Helsinki.
About Euroports Finland Oy
Euroports Finland Oy is Finland’s leading full-service port operator, which offers a range of value-added services. Euroports Finland is part of the international Euroports Group, which operates in 32 terminals and logistic platforms globally and has a workforce of approx. 3,000 employees.
Disclaimer
The acquisition is subject to certain authority approvals in Finland and completion is estimated to take place in the first quarter of 2022.
