EU Set to Approve International Paper's Acquisition of DS Smith
International Paper, a US-based company, is expected to receive EU approval for its £5.8 billion ($7.12 billion) acquisition of UK rival DS Smith. The approval is contingent on the sale of assets to alleviate competition concerns.
The deal, announced in April 2023, will strengthen International Paper's position in the European paper and packaging sector. The European Commission, which will make a decision by January 24th, declined to comment.
DS Smith, which operates in over 30 countries, provides packaging, paper, and recycling services to companies such as Amazon and Unilever. The acquisition follows Smurfit Kappa's purchase of WestRock in an $11 billion deal last year.