Disposal

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

 

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