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DS Smith Sells Two Packaging Businesses to Meet European Commission Commitment
Tuesday 23 April 2019

23 April 2019 - UK-based recycled corrugated packaging provider DS Smith plc (LON: SMDS) has reached an agreement for the proposed sale of two packaging businesses in North Western France and Portugal to International Paper (NYSE: IP) for EUR 63m (c. GBP 54m), the company said.

The sales would fulfil the commitment made to the European Commission in relation to the clearance of DS Smith's acquisition of Papeles y Cartones de Europa, S.A., known as Europac, which completed on 22 January 2019.

Completion of the sales is subject to customary closing conditions including works council consultation and regulatory approvals and expected to take place in the first half of our FY 19/20.

DS Smith is a provider of corrugated packaging in Europe and of specialist plastic packaging worldwide.
Details
Date Published: 23/04/2019
Target: Packaging businesses in North Western France and Portugal
Country: France
Deal Size: 70.86m (USD)
Sector: Paper/Packaging/Office Supplies
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: DS Smith
Buyer: International Paper
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