On October 11, 2024, Strategic Value Partners, LLC (SVP), through its subsidiary Coniferous Bidco AB, announced a public offer to acquire all shares of Nordic Paper Holding AB for SEK 50 per share in cash, valuing the deal at approximately SEK 3.345 billion (C$410 million). SUTRIV Holding AB, a subsidiary of Shanying International Holding Co., Ltd., which held 48.16% of Nordic Paper, irrevocably committed to accepting the offer. The offer price represented a negative premium of 0.5% compared to the October 10, 2024, closing price.

Nordic Paper operates five paper mills, including one in Canada, supplying specialty papers to 85 countries globally.

The offer was conditional on achieving at least 48% ownership of Nordic Paper. Regulatory approvals, including competition and foreign investment clearances, were anticipated during the acceptance period from November 6, 2024, to December 11, 2024.

Rothschild & Co Nordic AB acted as financial advisor, with Advokatfirman Schjødt and Kirkland & Ellis providing legal advice to Coniferous Bidco. DNB Markets served as issuing agent. Vinge advised Nordic Paper in connection with the offer. The offer was not subject to a 90% acceptance level, demonstrating SVP's commitment to Nordic Paper regardless of the outcome.