Cleary Gottlieb represented Ahlstrom Corporation in its acquisition of the consumer wipes business of Fiberweb plc, for which it paid approximately €65 million. The acquisition agreement was signed on March 30, 2007, and the transaction is expected to close in the second quarter of 2007, subject to antitrust clearances.
Ahlstrom, headquartered in Finland, is a global leader in the development, manufacture and marketing of high performance fiber-based materials. Fiberweb is one of the largest suppliers of high performance, specialty non-woven fabrics.