SCA Accepts DS Smith Formal Offer for Packaging Operations in France
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SCA, Stockholm, Sweden, reports that it has accepted UK-based DS Smith's formal offer to acquire its packaging operations in France, following consultations with appropriate works councils. As a result, a sale and purchase agreement has been signed by both parties.
SCA had announced this past January that its packaging operations, excluding two kraftliner mills in Sweden, would be sold to DS Smith. The agreed purchase price totals EUR 1.7 billion on a debt free basis. Closing of the transaction is expected to take place in the second quarter.
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