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Hansol Paper Sells European Companies to Iconex

Seoul/Frankfurt – Paul Hastings LLP, a leading global law firm, announced today that it has advised Hansol Paper Co., Ltd., the largest paper manufacturer in Korea, on the sale of its European Schades and R+S group companies to U.S-based Iconex, a market leader in low-cost paper receipt and differentiated label solutions.

Schades, headquartered in Skive, Denmark, converts thermal paper for its customers, including receipt paper rolls for cash registers and self-adhesive labels. Headquartered in Sarstedt, Germany, R+S converts and markets thermal paper for receipts, coupon and ticket applications as well as labels.

Closing is expected to take place in the fourth quarter of this year.

The Paul Hastings team was led by Frankfurt partner Regina Engelstädter and Seoul partner Daniel Sae-Chin Kim, with support in Frankfurt from corporate associates Sebastian Klein and Sebastian Ens, tax advisor Uwe Halbig, and real estate associate Jan Hueniken; in London from employment partner Suzanne Horne and corporate associate Catherine Kennedy; and in Paris from corporate partner Sébastien Crepy and associate Ted Dimvula, and employment partner Stéphane Henry and associate Alexandre Ruiz.

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