Mayer Brown advises Numis Securities on Powerflute's proposed reverse takeover of Corenso and re-admission to AIM
6 October 2014
London - Leading global law firm Mayer Brown has advised Numis Securities Limited in relation to its role as nominated adviser to Powerflute Oyj in connection with Powerflute's proposed reverse takeover of Corenso.
The acquisition constitutes a reverse takeover under the AIM Rules and remains subject to Powerflute shareholder approval. Powerflute intends to submit an application for re-admission to AIM in accordance with the AIM rules. Closing and re-admission to AIM is expected to take place on 28 November 2014.
Powerflute is a Finnish-based producer of premium-grade semi-chemical fluting used in the manufacture of corrugated board for packaging applications. Corenso is an international cores and coreboard producer based in Finland, operating 12 plants across Europe, the United States and China and three mills in Finland, France and the United States.
Numis is a leading independent investment banking and stockbroking group offering a full range of research, execution, corporate broking and corporate finance services to companies quoted in the UK and their investors.
Kate Ball-Dodd, Corporate & Securities partner at Mayer Brown, said: "We are delighted to have advised longstanding client Numis in their role as adviser to Powerflute in helping it with this potentially significant development in Powerflute's business."
The Mayer Brown team was led by Corporate & Securities partner Kate Ball-Dodd with support from Corporate & Securities senior associate Simon Allison (both London).