We have advised our client Eren Paper on the successful acquisition of Shotton Paper Mill in Wales. The transaction completed on 30 September and is one of the most significant inward investments by a Turkish Group into the UK and one of the largest by any overseas group into North Wales in recent years. Planned production at the facility will turn the UK from a net importer to net exporter of containerboard.
Eren Paper is a subsidiary of family-owned and run Modern Karton, the containerboard and corrugated packaging business of the Turkish industrial conglomerate Eren Holding.
Lead partner, Ravi Goonesena commented: “We are delighted to have supported our client in their acquisition of Shotton Paper Mill. This acquisition represents a substantial investment into Wales, a long-term future for the current employees of the mill, and could provide over 600 new jobs for the local area. It was a complex deal and one which encompassed a number of our expert practice areas.”
Cigdem Cekceoglu, a board director of the Eren Holding commented: “We could not have implemented the deal without Ravi and the Fladgate team. They were real partners from start to finish, going above and beyond the traditional role of lawyers - acting as corporate finance advisers and project managing the entire transaction.”
The Fladate team comprised: Ravi Goonesena, Cem Usten, Sam Tye, Jan Hoppe, Ian Smith, Michelle Waknine, Isha Wurie, Mike Tremeer, Caroline Philipps, Neal Todd, John Forde, Garbhan Shanks, Naomi Hall, Amanda Hado-Bodfield, Mark Harnett, Nathan Carter-Smith, Miles Crawford, Roland Brandman, Kim Fowler, Kelly Whiter and Sophie Spector.