1st Jul 2019 08:54
(Alliance News) - Shares in DS Smith PLC rose on Monday after the paper and packaging firm said it completed the sale of two packaging businesses in north west France and in Portugal to Memphis, Tennessee-based peer International Paper for EUR63 million.
DS Smith said the sale honours the commitment made to the European Commission in relation to the clearance of its acquisition of Spanish packaging firm Europac, which completed in January.
Last month, DS Smith had said financial 2019, which ended on April 30, was a "year of good delivery" overall, with "substantial" progress being made overseas and the integration of Europac was going well.
DS Smith shares were up 1.9% at 369.20 pence, among the best performers in the FTSE 100 on Monday.
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