DS Smith to sell two packaging firms to Intl Paper for €63m
By Frank Prenesti
Date: Wednesday 17 Apr 2019
(Sharecast News) - DS Smith said it had reached agreement for the proposed sale of two packaging businesses in North Western France and Portugal to International Paper €63m (£54m).
The sales would fulfil the commitment made to the European Commission in relation to the clearance of Smith's acquisition of Papeles y Cartones de Europa, S.A., known as Europac, which completed on 22 January 2019.
Completion is subject to customary closing conditions including works council consultation and regulatory approvals and expected to take place in the first half of Smith's 2019/20 full year.
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