Divestment by AssiDomän (SE) to Kappa Packaging (NL) — SEK 10.4 billion

Carnegie acted as adviser to AssiDomän in the divestment of business area Corrugated and Containerboard to Kappa Alpha Holdings (”Kappa Holdings”) Kappa Holdings is a company formed by Cinven Ltd and CVC Capital Partners, to be integrated with Kappa Packaging, one of Europe’s largest companies operating in the production, development and sale of recycled paper, solid board, corrugated and solid-board packagings, graphic and speciality board.May, 2001.