Abris Capital increases Slovenian Paloma with EUR 15 m - Acquisition offer follows

Members of the Supervisory Board at Slovenian state-owned holding accepted proposal of the management at Paloma that Polish financial fund, Abris Capital increases capital for EUR 15 m at this technologically aged company. Capital increase will be followed by acquisition offer.

In the first nine months, Paloma generated sales profit totaling EUR 63 m, which is 4% less than in the same period last year and is lower than planned.

Apart from that, business profit totaling more than EUR 1 m is lower than last year and lower than expected.

It is mainly consequence of higher world cellulose prices, key raw material of Paloma’s products which increased in price for more than a fifth due to strengthening of American dollar.