EU authorities have cleared the path for Stora Enso to take over Netherland's based containerboard producer De Jong Papier Holding and corrugated products company De Jong Verpakking Holding (DJV).
Stora Enso's €1bn deal to acquire De Jong Papier Holding and De Jong Verpakking Holding (DJV) and boost its corrugated packaging business has been given a go-ahead from the EU competition authorities on 28 November. The deal was announced in September and the European Commission was notified at the start of November. According to the Commission, the proposed concentration was examined under simplified procedure.
"Closure of the transaction is still ongoing and is expected to be finalised at the beginning of 2023," Stora Enso commented.
De Jong Packaging group is one of the major corrugated packaging producers and suppliers in the Benelux countries. The group runs packaging facilities in the Netherlands, Belgium, Germany and the UK. De Jong Papier Holding operates the 360,000 tpy De Hoop recycled corrugated case material mill in Netherlands. De Hoop paper mill was acquired in 2021 from DS Smith.