Acquisition

RNS Number : 9678R

Smith (DS) PLC

01 September 2010

 



 1 September 2010

DS Smith Plc ("DS Smith")

Acquisition by DS Smith of Carlyle's majority stake in Otor

Following the announcement made on 26 August 2010, DS Smith today announces that it has acquired all the shares held directly and indirectly by The Carlyle Group in Otor S.A. ("Otor") (representing 94.75 per cent. of the share capital of Otor), together with shares in Otor held by management. As a result of this transaction, DS Smith holds directly and indirectly more than 95.00 per cent. of the share capital and voting rights of Otor. The price paid by DS Smith is EUR 8.97 per Otor share.

In accordance with applicable French regulations, DS Smith will in due course file a draft simplified cash offer in respect of the remaining Otor shares to be followed by a squeeze out, at a price of EUR 8.97 per Otor share.

Enquiries

DS Smith Plc

Miles Roberts, Group Chief Executive

Steve Dryden, Group Finance Director

Rachel Stevens, Head of Investor Relations

[phone]

J.P. Morgan Cazenove

Malcolm Moir

Mark Breuer

Niklas Kloepfer

[phone]

 

END

 

 

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