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AustralianPrinter Daily Newsletter Friday 18 Jan 2019  


Potential buyer, Kokusai Pulp and Paper, rivals Japan Pulp & Paper, the owner Ball & Doggett

Paul Brescia, 18 Jan 2019

Kokusai Pulp & Paper enters binding scheme implementation deed, shareholders to meet in June

Spicers, Australia's second-biggest paper merchant, may soon be owned by a Japanese conglomerate, Kokusai Pulp & Paper, following confidential discussions between the two companies.

The board is recommending all shareholders vote in favour of a cash transaction for 100 per cent of the company's shares, with directors committing their 26.6 per cent of the company to the deal. The vote will take place in June, with expected implementation in July if shareholders agree to the scheme.

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