FOSBER GROUP ACQUIRED TIRUÑA GRUPO INDUSTRIAL S.L. IN SPAIN
- Fosber S.p.A. has entered into a definitive agreement for the acquisition of a controlling stake of the shares capital of the company Tiruña Grupo Industrial S.L. (TGI).
- Fosber Group, headquartered in Lucca, is a leading global supplier for the design, construction and installation of complete lines as well as individual machine units for the production of corrugated board packaging. Fosber Group, 100% owned by the listed Chinese Group Guangdong Dongfang Precision Science & Technology Co., Ltd. (“Dongfang Precision”), in financial year 2017, posted sales amounting to over 150 millions of Euro.
- Tiruña Grupo Industrial S.L. (TGI), headquartered in Pamplona, together with its subsidiaries, is a leading industrial group, with turnover above 25 millions of Euro, active in the manufacturing and commercialization of corrugating rolls and pressure rolls for the corrugated industry.
- The closing is scheduled by the end of May. This transaction will further cement both companies as world leaders in the field of corrugating machinery and rolls.
- Scouting SpA acted as financial advisor to Fosber S.p.A.; while Tiruña Grupo Industrial was assisted by Ernst & Young S.L..
The legal advisor of the deal for Fosber was PwC TLS; while Tiruña Grupo Industrial was assisted by the Zubiri & Zudaire law firm.