Global law firm White & Case LLP has advised the senior secured lenders to Antalis on the disposal by Sequana and Bpifrance Participations of their majority stakes in the Antalis Group to Kokusai Pulp & Paper, the leading paper distributor in Japan, Asia and Australia.
The secured lenders include funds Kartesia, CVC, Cheyne and Whitebox as well as major financial institutions BNP Paribas, Natixis and HSBC.
Concurrently to the binding agreement, a restructuring agreement between KPP, Antalis and the lenders of Antalis' existing syndicated credit facility has been signed, providing for the refinancing of a partial reimbursement of the outstanding facility through a new financing granted by Mizuho Bank, and a write-off of the remainder.
Euronext-listed Antalis is the leading professional paper distributor and provider of packaging and visual communication solutions in Europe and the world (outside of the United States), with a presence in 41 countries and 115 distribution centres worldwide.
The White & Case team which advised on the transaction was led by partners Saam Golshani and Alexis Hojabr and included partners Franck De Vita, Samir Berlat, Alexandre Jaurett, Estelle Philippi (all Paris), Ben Davies and Nicholas Greenacre (both London), with support from associates Agathe Delalande, Céline Oréal, Alice Léonard, Margaux de Lembeye, Laure Elbaze, Dany Luu and Imane Bellafqih (all Paris).
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