Commission postpones decision on takeover of SCA Packaging
DS Smith is to become the second largest manufacturer of recycled fibre based packaging in Europe. However, the takeover of SCA Packaging is still pending. Now, the European Commission’s decision has been deferred.
The European Commission (EC) has postponed its decision regarding the takeover of SCA Packaging by DS Smith. According to a recent filing by the Commission, the decision will be taken on May 25, about two weeks later than originally planned.
The Commission did not state any reasons as to why the decision was postponed. However, a report from Bloomberg reveals that DS Smith has offered the Commission to make concessions regarding the takeover. The news agency however did not provide detail on the alleged concessions.
DS Smith had announced the takover of SCA’s packaging business excluding the two kraftliner mills in Sweden in January 2012. The transaction is planned to be concluded by the end of the second quarter.
⇒ Find this article in its entirety and any associated background information in EUWID Pulp and Paper no. 19.
Our weekly newsletter's print and e-paper versions keep busy professionals up-to-date on the latest news from European pulp and paper markets.
⇒ Test EUWID Pulp and Paper free of charge and without any obligation by clicking here.