Solaris Paper Pty Ltd completed the acquisition of Australian consumer tissue business of Asaleo Care Limited.

Solaris Paper Pty Ltd agreed to acquire Australian consumer tissue business of Asaleo Care Limited (ASX:AHY) for AUD 180 million on December 6, 2018. Asaleo Care Limited paid AUD 8.5 million related to the sale of the tissue business, out of which AUD 1 million of were for costs related to the sale and the remaining AUD 7.5 million into an escrow account that will be refunded once the sale is complete. The transaction value represents a multiple of over 10x pro forma EBITDA. The transaction is expected to be completed during the first quarter of 2019. Proceeds from the sale will significantly strengthen Asaleo Care Limited's balance sheet, reduce net debt and improve the leverage ratio. Macquarie Group Limited acted as financial advisor to Solaris Paper Pty Ltd. Luminis Partners Pty Ltd. acted as financial advisor for Asaleo Care Limited. Solaris Paper Pty Ltd completed the acquisition of Australian consumer tissue business of Asaleo Care Limited (ASX:AHY) at the end of March 2019.