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October 15, 2018

Oceanwood bought bankrupt Norske Skog

  Investment funds managed by Oceanwood Capital Management Limited have now acquired 100% of the shares in Norske Skog AS following a lengthy process of regulatory approvals.  The net purchase price after adjustments was approximately EUR 236 million in cash. EUR 231 million is expected to be distributed to the holders of the EUR 290 million senior secured notes due 2019 (SSNs) and the lenders under the EUR 16 million liquidity facility (Liquidity Facility) shortly after closing, whilst the remaining balance will be held in an escrow account for a period of six months pending further potential ...

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