Boulogne-Billancourt, 21 December 2018
Update on the litigation with BAT and the sauvegarde of Sequana
As regards the litigation between Sequana and British American Tobacco (BAT), the company indicates that it does not have any information about the date on which the decision of the Court of Appeal in London will be handed down, as it is not customary for English courts to set out in advance the date of their decision, contrary to France. Considering the courts' holidays break at this time of the year, it is likely that the decision will not be handed down in 2018.
Besides, the Nanterre Commercial Court has decided to extend the observation period for Sequana until 17 May 2019. The company will have to file a new sauvegarde plan by this date.
Sequana (Euronext Paris: SEQ), is a major player in the paper industry, boasting leading positions in each of its two businesses:
- Antalis: leader in B2B distribution of Papers and industrial Packaging and number two in the distribution of Visual Communication media in Europe with around 5,500 employees based in 41 countries.
- Arjowiggins: Global manufacturer of recycled and specialty papers, with around 2,300 employees.
Sequana reported sales of €2.8 billion in 2017 and employed some 7,800 people worldwide.