1 September 2010
DS Smith Plc ("DS Smith")
Acquisition by DS Smith of Carlyle's majority stake in Otor
Following the announcement made on 26 August 2010, DS Smith today announces that it has acquired all the shares held directly and indirectly by The Carlyle Group in Otor S.A. ("Otor") (representing 94.75 per cent. of the share capital of Otor), together with shares in Otor held by management. As a result of this transaction, DS Smith holds directly and indirectly more than 95.00 per cent. of the share capital and voting rights of Otor. The price paid by DS Smith is EUR 8.97 per Otor share.
In accordance with applicable French regulations, DS Smith will in due course file a draft simplified cash offer in respect of the remaining Otor shares to be followed by a squeeze out, at a price of EUR 8.97 per Otor share.
DS Smith Plc
Miles Roberts, Group Chief Executive
Steve Dryden, Group Finance Director
Rachel Stevens, Head of Investor Relations
+44 (0)1628 583 400
J.P. Morgan Cazenove
+44 (0)20 7742 4000
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