DS Smith's $2.1B SCA Packaging Buy OK'd After Concessions

Law360, New York (May 25, 2012, 2:46 PM EDT) -- The European Union's competition authority on Friday approved DS Smith PLC's proposed €1.7 billion ($2.1 billion) purchase of Svenska Cellulosa Aktiebolaget's packaging unit after the companies offered concessions to ease antitrust worries over the deal.

The EU's antitrust watchdog, the European Commission, said in a statement that it approved the tie-up between the two corrugated packaging producers on the condition that the combined company follows through on its commitments to divest production plants in the U.K. and France.

The commission's competition policy head, Joaquin Almunia, said...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.