DS Smith has confirmed that the European Commission has issued its clearance of its combination with International Paper.
This combination will create a global leader in sustainable packaging solutions, focused on the growing North American and EMEA regions. Formal closure on the transaction is expected to close on Friday, 31 January.
“As initially notified, this deal would have further increased the concentration levels in local markets for the supply of corrugated sheets and cases in Portugal, Spain, and France. It would have likely resulted in higher costs for businesses relying on boxes for the delivery of their products, and ultimately for consumers buying them. The divestments offered by the parties address all our concerns, ensuring that these markets remain competitive,” said Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition
