SKG is waiting for approval by Colombia's national market and financial regulatory authority to launch a tender offer for the acquisition of the remaining shares in the company.
Smurfit Kappa Group (SKG) intends to acquire the remaining minority shareholding in Cartón de Colombia. SKG currently holds 69.94% of the shares in the company.
SKG said it would offer approximately €90m in cash for the remaining 30% minority shares in Cartón de Colombia. Certain minority shareholders of Cartón de Colombia, who hold 15.54% of the shares in the company, have already entered into agreements with Smurfit Kappa to tender their shares, according to SKG.
Trading of Carton de Colombia's shares on the Colombia Stock Exchange has been suspended since 14 March as a result.
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