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Disposal

1st Oct 2010 14:47

RNS Number : 7301T
Smith (DS) PLC
01 October 2010
 



 

1 October 2010

 

 

DS Smith Plc Completes the Disposal of its Corrugated Packaging Operation in Turkey

 

On 28 May 2010, DS Smith Plc announced that it had agreed to sell DS Smith Copikas, its corrugated packaging operation in Turkey, to Olmuksa International Paper-Sabanci Ambalaj Sanayi Ve Ticaret A.S. for a cash consideration of £4.7m payable on completion. The disposal was conditional upon approval by the Turkish Competition Board. 

 

Further to this announcement, DS Smith Plc announces today that it has completed the sale of

DS Smith Copikas.

 

The disposal confirms DS Smith's focus on growing core businesses of scale within its portfolio. 

DS Smith intends to use the net proceeds from the sale to repay debt.

 

Enquiries

 

DS Smith Plc 01628 583 400

 

Steve Dryden, Group Finance Director

Rachel Stevens, Head of Investor Relations

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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