International Paper secured EU clearance on January 24, 2025, for its 5.8-billion-pound ($7.2 billion) acquisition of UK rival DS Smith. This approval is a critical step towards finalizing the transformative deal.
The clearance is conditional on International Paper entering into commitments to divest five specific box plants in Europe. These include three plants in France (Mortagne, Saint-Amand, and Cabourg), one in Portugal (Ovar), and one in Spain (Bilbao).
Completion of these divestments is not a condition for the overall acquisition to close, allowing the merger to proceed. This regulatory approval significantly de-risks the transaction and paves the way for the creation of a global leader in sustainable packaging solutions.
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