Sappi’s deal to sell graphic-paper mills lapses
The parties could not conclude the suspensive conditions
14 April 2023 - 12:43
Sappi shares slumped to their lowest level in two weeks on Friday morning after it announced that the intended sale of its three European mills to Aurelius Group had lapsed, dealing a blow to the group’s strategy to reduce its exposure to the graphics market.
Shares in JSE-listed Sappi fell 4.96% to R44.81 by midmorning...
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