The Board of Directors of the Europac Group has approved its 2017 annual accounts, which recorded a net profit of 78 million euros, 59.4% up on 2016. Aggregate sales increased by 10.9% to 1,186 million euros, Aggregate sales increased by 10.9% to 1,186 million euros, while consolidated sales reached 868 million euros, 8.4% more than a year ago. Consolidated EBITDA amounted to 158 million euros, 25% up on the 127 million euros of the previous year, while recurring EBITDA totalled 147 million euros, 19.3% up on the previous year. The difference between consolidated and recurring EBITDA is mainly due to the extraordinary effects of the sale of the packaging factory in Tangier and the logistics operator at the port of Viana do Castelo, as well as settlement of the guarantees linked to the acquisition of the paper and packaging factories in Rouen (France) in 2008. In this context, the EBITDA margin rose by 2.4 percentage points to 18.2%, while EBIT amounted to 106 million euros, 37.1% up on the previous year.
Stockholders of Domtar Corporation (NYSE: UFS) (TSX: UFS) today approved a proposal to adopt a business combination with Paper Excellence B.V. (“Paper Excellence”) whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash pursuant to an agreement and plan of merger dated May 10, 2021 (the “Merger”).
The adoption of the Merger required the affirmative vote of stockholders holding a majority of the issued and outstanding shares of Domtar’s common stock entitled to vote on such matter.
More than 81 percent (81.93%) of the issued and outstanding shares of Domtar’s common stock entitled to vote at the special meeting of stockholders were voted in favor of the Merger. In addition, the non-binding compensation advisory proposal was also approved by a majority of the shares represented at the meeting.
Additionally, Domtar announced that clearances have been obtained under the antitrust laws of Spain and the People’s Republic of China, following previous clearances obtained in the United States and Turkey, representing another step toward the closing of the announced Merger.
The Merger is expected to be completed before the end of 2021, subject to receiving clearance under Canada’s Competition Act and other customary closing conditions.