Mondi buys Egypt's NPP for €23m

Mondi on Monday said it was buying Egypt's National Company for Paper Products and Import & Export (NPP) for EGP 510m (€23.7m) on a debt and cash free-basis.

NPP is a privately owned industrial bags producer, operating one plant in Giza near Cairo (Egypt) serving mostly regional customers, Mondi said.

For the year ended 31 December 2017, the Company generated revenues of EGP 577m (€29m) and adjusted EBITDA of EGP 107m (€5m).

The transaction is subject to customary closing conditions and is expected to complete during the first half of 2018.