Finance
Exclusive-International Paper to win EU approval for $7.1 billion DS Smith deal
Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
International Paper's $7.1 billion acquisition of DS Smith is set for EU approval, pending asset sales to address competition concerns.
By Foo Yun Chee
BRUSSELS (Reuters) -U.S.-based International Paper is set to get EU approval for its 5.8 billion pound ($7.12 billion) purchase of UK rival DS Smith after agreeing to sell assets to address competition concerns, people with direct knowledge of the matter said on Tuesday.
The deal announced last April will boost International Paper's European presence in the paper and packaging sector that is going through consolidation.
The European Commission, which is scheduled to decide on the deal by Jan. 24, declined to comment. Both International Paper and DS Smith also declined to comment.
The sources declined to comment on details of the asset sales.
DS Smith, which operates in more than 30 countries, provides packaging, paper and recycling services to companies including Amazon and Unilever.
Irish packaging company Smurfit Kappa closed its acquisition of U.S. rival WestRock in an $11 billion deal last year.
($1 = 0.8147 pounds)
(Reporting by Foo Yun CheeEditing by David Goodman and Barbara Lewis)
The main topic is International Paper's acquisition of DS Smith and its pending EU approval.
EU approval is needed to ensure the deal does not harm competition in the paper and packaging sector.
Approval is contingent on International Paper selling certain assets to address competition concerns.
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