On July 25, DS Smith PLC said that it had won shareholder approval as well as US Federal Trade Commission clearance for its acquisition of an 80% stake in Indevco Management Resources Inc.
DS Smith made plans for the US$920 million acquisition from Merpas Co Sarl in late June. After the completion of the transaction, DS Smith is responsible for paying off the US$226 million debt of Interstate Resources Inc, one of Indevco’s subsidiaries.
The deal also states that DS Smith will acquire some or all of the remaining 20% of Indevco over the next four years.
Full Content: Morning Star
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