Weekly

EC: Paper Excellence owner Jackson Wijaya intends to take over Asia Pulp & Paper

20 November 2024

The Directorate-General for Competition of the European Commission (EC) has been notified of a proposed acquisition of sole control over Asia Pulp & Paper Group by Jackson Wijaya Limantara, the sole owner of the Paper Excellence Group.

The EC received notification on 15 November and the proposed concentration is registered under the merger case M.11711. The case was registered under simplified merger procedure and the provisional deadlien was set for 20 December 2024.

Asia Pulp & Paper (APP) is a group of companies currently controlled by Jackson Wijaya's father Oei Tjie Goan. According to the Competition DG, Jackson Wijaya Limantara intends to acquire direct control over each of the four holding companies that together directly and indirectly control all of the companies within the APP group. The four holding companies are named as Scotsdale Holding Limited, Austin Premium Group Limited, Capital Holding Strategic Limited and Global Capital Universal Limited.

Paper Excellence Group is headquartered in Richmond, Canada, and recently rebranded as Domtar.

Asia Pulp & Paper is heaquartered in Jakarta, Indonesia. It is the pulp, paper and packaging business unit of the Sinar Mas Group.

Source: Euwid