Toilet Paper Manufacturer 'Monalisa' Sold to Indonesian Paper Company
Toilet paper manufacturer Monalisa is being sold to the Indonesian paper company Asia Pulp and Paper (APP).
According to the financial investment industry on the 4th, the overseas private equity firm Morgan Stanley Private Equity (MS PE) signed a stock purchase agreement to sell 100% of the shares of MSS Holdings, the major shareholder of Monalisa, to APP for 400 billion KRW.
As of the end of last year, MSS Holdings holds 50.99% of Monalisa's shares and also owns 100% of Ssangyong C&B, another toilet paper manufacturer and unlisted company.
MS PE acquired Monalisa and others in 2014 and attempted to sell the company in 2017 and 2022, but the deals were not completed.
APP, which acquired Monalisa, is one of Indonesia's leading companies, exporting pulp, paper, and packaging products to over 150 countries including Korea.
APP is known to aim to increase its influence in the domestic toilet paper industry by acquiring Monalisa and Ssangyong C&B, and to seek synergy effects with its core business of manufacturing pulp and paper.
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Monalisa owns toilet paper brands such as "Bujadoeneun Jip" (House Getting Rich), "Jayeoni Joeun" (Nature is Good), and "Nokchaga Joeun" (Green Tea is Good), and also produces masks and diapers. Ssangyong C&B is known for the toilet paper, wet tissue, and mask brand "Codi."
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