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Smurfit Kappa To Take Full Control Of Cartón de Colombia

Published on Mar 15 2019 10:30 AM in Packaging And Design tagged: Packaging / Smurfit Kappa / Colombia / Cartón de Colombia

Smurfit Kappa To Take Full Control Of Cartón de Colombia

Packaging firm Smurfit Kappa has announced that it plans to launch a tender offer to acquire the minority shares in Cartón de Colombia S.A., a producer of virgin finer pulps and packaging products in the South American country.

Smurfit Kappa currently holds 69.94% of the shares in Cartón de Colombia.

'Certain minority shareholders of Cartón, who hold approximately 15.54% of the shares in Cartón have entered agreements with Smurfit Kappa to tender their shares into the Transaction once launched,' the packaging firm said in a statement.

Transaction Value

If all minority shares are tendered, the transaction will amount to approximately €90 million, which will be funded from the group's existing cash resources, Smurfit Kappa said.

The transaction is expected to complete in the second quarter, subject to completion conditions and regulatory approval.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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