Smurfit Group sells speciality paper business

Jefferson Smurfit Group today announced that it has completed the sale of its Munksjo Specialty paper business to The EQT III Fund for approximately €450m.

The proceeds from the disposal will be used to pay down debt.

The Munksjo assets sold comprise pulp, décor paper, and speciality paper businesses and had estimated sales from operations, for the year to December 31, 2004, of approximately €480m.

Advisors to JSG on the transaction were UBS Investment Bank and JP Morgan.