Firms act as Japanese paper giant acquires majority of new Australasia business

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Baker McKenzie and Clarendon Lawyers have acted in the formation of a new Australasian business and the subsequent purchase of a majority stake in the merged company by a Japanese paper giant.

Baker McKenzie advised Japan Pulp and Paper Co. on its proposed acquisition of 51% of PagePack. Clarendon Lawyers advised K.W. Doggett Fine Paper on the deal.

PagePack will be established from the operations of two separate wholesale paper, packaging, and industrial products distribution businesses operated by the K.W. Doggett and BJ Ball groups in Australia and New Zealand.

Under the deal, Tokyo Stock Exchange-listed Japan Pulp and Paper will purchase the controlling stake for about $75m, with the option to buy the remaining 49% stake within three years after completion. The deal, subject to customary conditions including regulatory approvals, is expected to close in July.

Baker McKenzie fielded a multijurisdictional team for the deal, led by Kiyoshi Endo, Satoshi Abe, and Tatsuya Niwa in Tokyo, and Lawrence Mendes and Ben McLaughlin in Sydney.

The Clarendons team was led by directors Tony Symons and Robert Feiner, who were assisted by senior associate Julie Lyons and associate Richard Hoare.

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