Vista Desarrollo sells Indas to Domtar for €400 million (US$540 million)
Clients Vista Desarrollo, S.A., S.C.R.
Jones Day advised Vista Desarrollo, S.A., S.C.R. in the sale of Laboratorios Indas, S.A., a Spain-based manufacturer of hygienic-sanitary products, to Domtar Corporation for €400 million (US$540 million). Domtar acquired all the outstanding capital stock for €285 million (US$384 million) and the business is expected to have approximately €140 million (US$189 million) of debt, net of cash, at closing. The net debt is expected to be reduced by the collection of approximately €25 million (US$33 million) of past due accounts receivable before year end or early 2014, resulting in an enterprise value of €400 million (US$540 million). The majority of the debt will be repaid by Domtar in connection with the closing of the transaction.