Kokusai Pulp & Paper Co., Ltd. (TSE:9274) signed a share purchase agreement to acquire a 8.5% stake in Antalis Société anonyme (ENXTPA:ANTA) from Bpifrance Participations SA for €2.4 million on March 31, 2020. Under the terms of the transaction, Kokusai Pulp & Paper Co., Ltd. will acquire 6.1 million shares in Antalis at a price of €0.40 per share. In a related transaction, Kokusai Pulp & Paper Co., Ltd. also signed a binding put option agreement to acquire 75.2% of the share capital and 82.5% of the voting rights from Sequana, at the price of €0.10 per share.

Post completion of both transactions, Kokusai Pulp & Paper Co., Ltd. will hold 83.7% stake, representing 59.460094 million shares in Antalis. The transaction is subject only to the transfer of the shares held by Sequana SA to Kokusai Pulp & Paper Co., Ltd. As of April 27, 2020, all the conditions with respect to the transaction have been fulfilled. Kokusai Pulp & Paper Co., Ltd. completed the acquisition of 75.2% stake in Antalis Société anonyme from Sequana SA on July 21, 2020.

De Pardieu Brocas Maffei acted as legal counsel for Kokusai Pulp & Paper Co., Darrois Villey Maillot Brochier and Cleary Gottlieb Steen & Hamilton acted as legal counsels for Bpifrance Participations. Jones Day acted as legal counsel for Antalis. Saam Golshani, Alexis Hojabr, Franck De Vita, Samir Berlat, Alexandre Jaurett, Estelle Philippi, Ben Davies and Nicholas Greenacre White & Case LLP acted as legal advisors to the senior secured lenders to Antalis which include funds Kartesia, CVC, Cheyne and Whitebox as well as major financial institutions BNP Paribas, Natixis and HSBC.

Rothschild & Co SCA (ENXTPA:ROTH) acted as financial advisor to Antalis Société.