Update on the Brazilian Merger Review Process for the Sale of Terphane to Oben Group

Tredegar announced that, as part of the Brazilian merger review process regarding the sale of Terphane to Oben Group, the General Superintendence of the Administrative Council for Economic Defense (“SG-CADE”) issued a non-binding opinion (“SG Opinion”) recommending the rejection of the transaction. Following this first stage of the two-stage Brazilian merger review process for complex transactions, the case will now be submitted to the CADE Tribunal, in accordance with the customary Brazilian merger review process. Once the case is submitted to the Tribunal, the parties are given a full opportunity to present evidence in favor of clearing the transaction. The SG Opinion is not binding and the final decision regarding the transaction will eventually be rendered by the Tribunal, which will begin its independent analysis now.

John Steitz, Tredegar’s president and chief executive officer, said, “We remain confident that the sale of Terphane to Oben Group will be a positive development for the flexible packaging films market in Brazil. Tredegar has been fully cooperative with SG-CADE and will continue to cooperate with the CADE Tribunal to address any concerns. During the Tribunal’s review, Tredegar and Oben will detail their views on the market, its dynamics and the positive effects that would result from the transaction.”
more at: https://ir.tredegar.com/news-releases/news-release-details/update-brazilian-merger-review-process-sale-terphane-oben-group

Related Posts

WestRock Receives Top Design of the Times Award for Disney Rogue One Display

The Design of the Times competition celebrates in-store displays and digital activations, and recognizes their role in any successful shopper marketing initiative. The competition is sponsored by the Path to Purchase Institute, a global member community that champions shopper-centric thinking and practice that help define the ongoing evolution of consumer marketing and the overall shopping experience. “At WestRock, we know that packaging and merchandising play an important role in the shopper’s path to purchase,” said Pete Durette, president of Enterprise Solutions & Strategy for WestRock. “We’re proud of the recognition these awards represent. They are a testament to our commitment to combining our unparalleled industry insights with design and innovation capabilities to create solutions that drive real value for our customers.” Click Read More below for additional detail.

Ahlstrom launches new glass fiber tissue line for high-performance building materials in Madisonville, U.S.

As market demand for high-performance, sustainable building materials is increasing, Ahlstrom continues to grow its glass fiber tissue business and strengthen its manufacturing platform globally by completing a major investment at its plant in Madisonville, KY, U.S. Ahlstrom’s product portfolio for the construction industry, FibRoc®, offers carriers, facings, and backing solutions protecting against fire, flame spread, moisture, and water. All of Ahlstrom’s glass fiber tissue solutions are fluorocarbon-free and have formaldehyde-free options.

Mondi expands ISTA-approved testing services to all its eCommerce packaging solutions

Mondi, a global leader in sustainable packaging and paper, is pleased to announce the expansion of its International Safe Transit Association (ISTA) and Amazon Packaging Support and Supplier Network (APASS) certified Performance Lab services to cater to the growing demands of eCommerce customers. Mondi's Performance Lab can now also test converted solutions such as MailerBAGs and corrugated boxes. Located in České Budějovice, Czechia, the Mondi Performance Lab complements its eCommerce service offering for high-performance eCommerce packaging, from base material to converted solutions. The laboratory's state-of-the-art equipment simulates the typical impact of packed goods in each supply chain step.
Back To Top
×Close search
Search