GLOBAL – Following the initial deal involving the DS Smith Plc acquisition of most of SCA’s packaging operations, both parties have signed a formal agreement for the former’s purchase of the French unit.
In January 2012, DS Smith announced that it was acquiring the packaging operations of CSA for EUR 1.7 billion. The deal, which excludes SCA’s two kraftliner mills in Sweden, was handled as a separate transaction from that of SCA’s French packaging unit, although its price was part of the announced purchase amount.
Now, SCA has accepted DS Smith’s formal offer to acquire the French operations following consultations with the appropriate works councils, and both parties have signed a sale and purchase agreement.
The process will now 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 of 2012.
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