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Liqui-Box, Olympus Partners Cleared to Complete Acquisition of DS Smith for GBP 400m
Wednesday 26 February 2020

26 February 2020 - US Department of Justice has cleared the way for the completion of the acquisition of UK-based international packaging company DS Smith plc by Olympus Partners and its affiliate Liqui-Box Holdings' pending acquisition of DS Smith's Plastics division, the company said.

DS Smith said it expects net cash proceeds of approximately GBP 400m (USD 520m), after taxation, transaction adjustments and expenses, which will be used to reduce financial gearing in line with its medium-term target of net debt.

The US Department of Justice issued consent decree, which is now subject to the required US federal court ratification, which is the final part of that process.

The sale represents a step in DS Smith's continued progress in sustainable packaging with a clear focus on its fibre-based business.
Date Published: 26/02/2020
Target: DS Smith
Country: UK
Deal Size: 520m (USD)
Sector: Paper/Packaging/Office Supplies
Type: LBO
Status: Agreed
Vendor: DS Smith
Buyer: Olympus Partners/Liqui-Box
Buyer Advisor: Barclays , Kirkland and Ellis