Acquisition of SCA Packaging: Latest News
The DS Smith Group has announced today that completion of its €1.6 billion deal to acquire SCA Packaging's recycling operations is expected to take place on 30 June 2012.
DS Smith confirmed that the deal, originally announced in January 2012, had been approved by the European Commission competition authority, subject to conditions. DS Smith's announcement today confirmed that all of the conditions specified by the Commission have now been satisfied or waived.
Miles Roberts said, "This is the culmination of a huge amount of hard work and determination by many people throughout DS Smith and SCA Packaging." He went on to say that it is "an exciting time for all 22,000 employees ... The coming together of DS Smith and SCA Packaging marks and exciting opportunity for everyone."