Actis sells 30% stake in China's Inpac to Finland's Stora Enso
UK-based private equity firm Actis has agreed to sell its 30% stake in Inpac, a premier printed paper packaging (PPP) manufacturer in China, to Stora Enso, a global paper, packaging and wood products company headquartered in Finland.
No financial details were disclosed on the divestment. Actis invested $17.7 million in Inpac in 2007, helping the company, under chairman Guo Cai, to strengthen its operations and increase sales, despite the global recession of 2008-09. Meng Ann Lim, Actis Partner and Regional Head for China and Southeast Asia, said publicly, "Inpac's sales have doubled since we invested in 2007; Mr. Guo’s entrepreneurial drive and business acumen contributed to this growth. Actis has been privileged to fund Inpac's growth, and help Inpac upgrade its operations and governance."
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