DS Smith has completed the acquisition of the packaging division of Svenska Cellulosa Aktiebolaget SCA (SCA) excluding the kraftliner assets.
The consideration paid on completion was â‚¬1,582 million (Â£1,280 million) net of cash and external debt, â‚¬1,606 million gross. This is subject to customary post Completion price adjustments.
SCA Packaging is the second largest packaging business in Europe and the Acquisition represents a significant opportunity for DS Smith to achieve its stated strategic aim of becoming the leading supplier of recycled packaging for consumer goods in Europe.
(LON:SMDS) Smith (DS) share price was +1.05p at 148.45p