Our team led by partner Doğan Eymirlioğlu advised Eren Paper Ltd (a subsidiary of Modern Karton Sanayi Ve Ticaret A.Ş., the containerboard and corrugated packaging business of the Turkish industrial conglomerate Eren Holding) on its acquisition of UPM’s Shotton newsprint mill site in North Wales, United Kingdom and all related assets.

The closing of the transaction is planned for late Q3 2021 and Eren plans to integrate the Shotton site into its existing business units and to make further investment at the site with a view to convert the mill into producing cardboard instead of newsprint.

The Renewable Energy Generation plant and Material Recovery and Recycling Facility will continue operations throughout the conversion process, corresponding to their role in the regional utility infrastructure.

Shotton mill is one of the UK’s two newsprint mills and a successful sale of the mill is expected to be welcome by the UK paper sector overall as it means that the Shotton will continue as a paper manufacturing base. Upon completion, the investment by Eren Paper will be the largest foreign direct investment in North Wales.

About Balcıoğlu Selçuk Ardıyok Keki

Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 130+ lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.