EU approves SCA's divestment of packaging operations to DS Smith

The Commission has conditioned the decision to DS Smith making some divestments after the acquisition.Jan Johansson, CEO of SCA, comments: "The most important condition for finalizing the deal has now been fulfilled. Today's decision by the EU will enable SCA to continue to strengthen and consolidate its positions in the hygiene and forest products areas."The purchase price amounts to 1.7 billion Euros on a debt free basis. The operations have approximately 12,000 employees.SCA's packaging operations will be transferred to DS Smith's ownership in connection with the closing of the deal, which is expected to take place before July 1.