Greiner announces today that it has reached an agreement with Baltisse to sell a stake of 22.6% in Recticel after thorough review of its options to optimize the value of its investment. Following the purchase of the approximately 27% stake in Recticel from Compagnie du Bois Sauvage as per the agreement announced on 14 May 2021, Greiner will sell 22.6% to Baltisse by way of a back-to-back transaction. Ultimately, Greiner intends to fully exit its stake in Recticel.
The agreement with Baltisse is subject to customary closing conditions.
Axel Kühner, CEO of Greiner AG, said: “This transaction adds value to our group and we will invest the proceeds in growth projects in our different lines of business while we are moving ahead on our way to become the leading supplier of foam and plastics solutions in Europe and globally.”