1 October 2010
DS Smith Plc Completes the Disposal of its Corrugated Packaging Operation in Turkey
On 28 May 2010, DS Smith Plc announced that it had agreed to sell DS Smith Copikas, its corrugated packaging operation in Turkey, to Olmuksa International Paper-Sabanci Ambalaj Sanayi Ve Ticaret A.S. for a cash consideration of £4.7m payable on completion. The disposal was conditional upon approval by the Turkish Competition Board.
Further to this announcement, DS Smith Plc announces today that it has completed the sale of
DS Smith Copikas.
The disposal confirms DS Smith's focus on growing core businesses of scale within its portfolio.
DS Smith intends to use the net proceeds from the sale to repay debt.
DS Smith Plc 01628 583 400
Steve Dryden, Group Finance Director
Rachel Stevens, Head of Investor Relations
This information is provided by RNS