Smurfit Kappa GrpPLC Statement re Cartón de Colombia S.A.
11 Junio 2019 - 3:00AM
UK Regulatory
TIDMSKG
Smurfit Kappa announces level of acceptances received in respect
of tender offer for minority shares in Cartón de Colombia S.A. -
92.5% of minority shares tendered
Smurfit Kappa Group plc ("Smurfit Kappa" or the "Group"), one of
the world's largest integrated manufacturers of paper-based
packaging products with operations in Europe and the Americas, is
pleased to announce that, as of 6 June 2019, being the closing date
for receipt of acceptances in respect of the tender offer (the
"Tender Offer") made by Smurfit Kappa to acquire the minority
shares in Cartón de Colombia S.A. ("Cartón"), as announced on 14
March 2019, valid acceptances had been received in respect of
29,945,394 Cartón shares representing approximately 92.5% of the
Cartón shares which were the subject of the Tender Offer.
The consideration payable under the Tender Offer amounts to
approximately EUR81 million and is being funded from the Group's
existing resources. It is expected that the Tender Offer will
complete this week subject to customary completion conditions and
adjustments and regulatory approval.
Smurfit Kappa held 69.94% of the shares in Cartón prior to the
Tender Offer and will now hold 97.7% post completion of the Tender
Offer.
The Tender Offer remains subject to the terms and conditions set
out in the tender offer documentation.
ENDS
Enquiries:
Smurfit Kappa Tel: +353 (0)1 202 7000
Garrett Quinn
FTI Consulting (Public relations adviser) Tel: +353 (0)1 765 0800
Jonathan Neilan
Melanie Farrell
About Smurfit Kappa
Smurfit Kappa, a FTSE 100 company, is one of the leading
providers of paper-based packaging solutions in the world, with
approximately 46,000 employees in over 350 production sites across
35 countries and with revenue of EUR8.9 billion in 2018. We are
located in 23 countries in Europe, and 12 in the Americas. We are
the only large-scale pan-regional player in Latin America.
With our proactive team we relentlessly use our extensive
experience and expertise, supported by our scale, to open up
opportunities for our customers. We collaborate with
forward-thinking customers by sharing superior product knowledge,
market understanding and insights in packaging trends to ensure
business success in their markets. We have an unrivalled portfolio
of paper-packaging solutions, which is constantly updated with our
market-leading innovations. This is enhanced through the benefits
of our integration, with optimal paper design, logistics,
timeliness of service, and our packaging plants sourcing most of
their raw materials from our own paper mills.
Our products, which are 100% renewable and produced sustainably,
improve the environmental footprint of our customers.
About Cartón
Cartón produces and sells virgin fibre pulp and packaging
products in Colombia. The company also sells corrugated boxes and
paper sacks and printing and writing papers. In addition, it is
involved in the recycling of boxes and used papers; reforestation
activities; and production and marketing of pine and eucalyptus
seedlings. The company is based in Yumbo, Colombia. Shares of
Cartón are listed on the Bolsa de Valores de Colombia.
Follow us on Twitter at @smurfitkappa and on LinkedIn at
'Smurfit Kappa'.
www.smurfitkappa.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190611005076/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
June 11, 2019 04:00 ET (08:00 GMT)
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