Proposed Acquisition of SCA Packaging and Rights Issue
DS Smith Plc (“DS Smith” or “the Company”) today announces the proposed acquisition of the packaging division of Svenska Cellulosa Aktiebolaget SCA (publ) excluding the kraftliner assets (“SCA Packaging” or “the SCA Packaging Group”) for a net consideration of approximately €1.6 billion (c. £1.3 billion1) (“the Acquisition”).
The gross price will be €1.7 billion on a cash, debt and, to the extent legally possible and commercially practicable, pension free basis and approximately €1.6 billion on a net basis after taking into account a pension price adjustment. DS Smith proposes to finance the Acquisition with existing and additional debt and a fully underwritten Rights Issue of 9 New Ordinary Shares for every 8 Existing Ordinary Shares at 95 pence each to raise a total of approximately £466 million.
- Proposed acquisition of SCA PackagingProposed acquisition of SCA Packaging
- Acquisition rights issueAcquisition rights issue
- Proposed acquisition prospectus postingProposed acquisition prospectus posting
- Supplementary informationSupplementary information
- Prospectus in relation to proposed acquisitionProspectus in relation to proposed acquisition