Skadden is advising Sylvamo on a put option agreement with Midas Atlantic Partners, in partnership with The Najafi Companies, for a binding offer to acquire Sylvamo’s Europe business, including its uncoated freesheet paper mills in Saillat, France, and Nymölla, Sweden, as well as its forestry and supporting business operations.
Following applicable consultation processes with works councils and employee representatives, the parties expect to enter into a definitive share purchase agreement to transfer the business to Midas Atlantic Partners with an agreed level of working capital and cash in exchange for the right to receive 20% of future distributions. Closing is expected by the end of the first quarter of 2027.
Sylvamo is a paper company with mills in Europe, Latin America and North America. Midas Atlantic Partners is a private equity group, and The Najafi Companies is a private investment firm.
The Skadden team includes Ani Kusheva, Katie Leah and Deborah Kirk.