DS Smith’s takeover of SCA Packaging is one step closer
After a consultation with the French works councils was completed, SCA has now accepted DS Smith's formal offer. As a result, a sale and purchase agreement for the French packaging operations has now been signed.
On 17 January 2012, SCA announced that its packaging operations – excluding the two kraftliner mills in Sweden – will be sold to DS Smith. The agreed purchase price amounts to EUR 1.7bn on a debt free basis.
As for the French part of the packaging operations, the acquisition was subject to consultation with the French works councils and has been managed separately.
Following the signing of the sale and purchase agreement, the process will continue towards completing the entire transaction, which includes review of relevant competition authorities.
Closing of the transaction is expected to take place in the second quarter 2012.
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