Lessebo Bruk takeover of DP maker Vida Paper in Sweden finalized, ownership structure changed
BRUSSELS, BELGIUM, February 19, 2013-
The newly formed company Lessebo Bruk has wrapped up the takeover of the bankrupt pulp and paper producer Vida Paper, with a mill in Lessebo, southern Sweden. The ownership change took place yesterday.
In early November last year, Vida Paper applied for reconstruction after its creditor bank terminated the firm's loans and credits and froze its bank accounts. The company had to file for bankruptcy on December 12. In mid-January, three Norwegians set up Lessebo Bruk, which was to take over Vida Paper on February 1. This was later pushed back to February 18.
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