Deal Snapshot
APPVION SEEKS US BANKRUPTCY COURT NOD FOR STALKING HORSE BID
Tuesday 13 February 2018

US-based paper maker Appvion, Inc. has filed a motion in the US Bankruptcy Court for the District of Delaware for approval of a stalking horse asset purchase agreement bid from a group of its lenders to acquire substantially all of Appvion's assets in a sale process under Section 363 of the Bankruptcy Code, the company said.
The agreement with the purchaser, which is subject to higher or otherwise better offers, provides a total consideration of USD 325m plus the assumption of substantial liabilities. Pursuant to Section 363, Appvion intends to implement bid procedures to allow other qualified bidders the opportunity to submit competing bids through a court-supervised sale process.


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Details
Date Published: 13/02/2018
Target: Appvion, Inc
Country: USA
Deal Size: 325m (USD)
Sector: Paper/Packaging/Office Supplies
Type: Corporate acquisition
Financing: Cash
Status: Bidding
Vendor:
Buyer: Group of the company, ´s lenders
Comment:


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