The firm’s Corporate Advisory team
is acting as NZ legal advisor to ASX listed Orora on the sale of its Australasian fibre business to Japanese firm, Nippon Paper for A$1.7 billion.
Orora is a major supplier of packaging solutions to a range of industries globally. Its Australasian fibre business is responsible for a number of functions including cardboard recycling and carton/bag manufacture. Orora's remaining Australian operations will now focus on its market leading beverage business, which includes the manufacture of wine bottles and aluminium cans.
Founded in 1949, Nippon Paper is one of the largest paper and packaging companies in the world and is listed on the Tokyo Stock Exchange. The deal will be the group's largest investment outside of Japan and will see it expand its operations into box manufacture.
The deal is expected to complete early next year.