Published by Global Banking and Finance Review
Posted on January 21, 2025
1 min readLast updated: January 27, 2026
International Paper is set to receive EU approval for its $7.1 billion acquisition of DS Smith, pending asset sales to address competition issues.
By Foo Yun Chee
BRUSSELS (Reuters) -U.S.-based International Paper is set to get EU approval for its 5.8 billion pound ($7.12 billion) purchase of UK rival DS Smith after agreeing to sell assets to address competition concerns, people with direct knowledge of the matter said on Tuesday.
The deal announced last April will boost International Paper's European presence in the paper and packaging sector that is going through consolidation.
The European Commission, which is scheduled to decide on the deal by Jan. 24, declined to comment. Both International Paper and DS Smith also declined to comment.
The sources declined to comment on details of the asset sales.
DS Smith, which operates in more than 30 countries, provides packaging, paper and recycling services to companies including Amazon and Unilever.
Irish packaging company Smurfit Kappa closed its acquisition of U.S. rival WestRock in an $11 billion deal last year.
($1 = 0.8147 pounds)
(Reporting by Foo Yun CheeEditing by David Goodman and Barbara Lewis)
The main topic is the EU's anticipated approval of International Paper's acquisition of DS Smith.
The EU required asset sales to address competition concerns in the paper and packaging sector.
The European Commission is expected to decide by January 24.
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