Europac shares to be delisted from the Madrid and Barcelona stock exchanges following the completion of the squeeze-out.
DS Smith has completed the takeover of Spain's Europac group. In a video message on 22 January, DS Smith's CEO Miles Roberts announced the completion of the Europac deal and welcomed the new staff joining the group.
In a separate release with the Spanish National Securities Market Commission CNMV on 22 January, Europac confirmed that in the tender offer made to shareholders of Europac on 3 December, DS Smith had received acceptances representing 98.8% of Europac's total share capital, and that the last condition of the proposed acquisition had been satisfied.
DS Smith will now initiate the compulsory acquisition of the remaining minority shareholding in Europac. Upon the completion of the squeeze-out, Europac shares are to be delisted from the stock exchanges in Madrid and Barcelona.
This article is part of our coverage on DS Smith and Europac. To stay current with latest news from the containerboard and corrugated products markets in Europe visit our website or follow us on twitter and facebook.