Sequana completed listing of Antalis International and exited safeguarde procedure

Sequana, a major player in the paper industry, announced its exit from the preventive (sauvegarde) procedure and the completion of the listing of Antalis International.

According to the announcement, the commercial court approved the company’s  preventive (sauvegarde) plan, thus bringing an end to the preventive procedure. Sequana will still benefit from the court’s protection following this decision.

Antalis International was listed on the stock exchange on June 12, 2017, in accordance with the measures announced by on 15 February 15, 2017. The market reacted positively to this operation.

In February 2017 Sequana announced the steps intended to protect the company interests and seeked the protection of the Commercial Court under a preventive procedure (Sauvegarde).

Earlier Sequana reported stable pro-forma EBITDA amid 7% decrease of sales in 2016 y-o-y

About Sequana:

The company is a major player in the paper industry, boasting leading positions in each of its two businesses: in the distribution of paper and packaging products, with around 5,700 employees based in 43 countries; . in creative and technical papers, with around 3,500 employees. Sequana reported sales of EUR 3.3 billion in 2015 and employed around 9,300 people worldwide.

Source: Woodbizforum