PaperlinX Limited announced today its European subsidiary, PaperlinX Netherlands Holding BV, has entered into an agreement to sell its operations in Poland to a consortium of a local private equity firm, Warsaw Equity Management sp z.o.o. and the local management team, with immediate effect.
Commenting on the sale, PaperlinX Managing Director and Chief Executive Officer, Mr Andy Preece said “after an intensive sale process, we are pleased to announce the successful sale of this business to the management and their financial sponsors. We wish the Polish management team and their employees all the best in the future”.
PaperlinX previously announced that it will not receive any direct benefits from the proceeds of the sale.