Thursday, November 3, 2016 11:15 am

IRELAND (From the Irish Times) -- Smurfit Kappa's chief executive has signalled the paper packaging group's appetite for US deals would wane - in the event of Republican candidate Donald Trump winning the US presidential election.

"I think it's just still unbelievable we could be contemplating a Donald Trump victory," Tony Smurfit, the group's chief executive told The Irish Times after it posted third quarter results.

"I think the world will take a more cautious approach [on US investments]", if Mr Trump won the election, he said.

Mr Smurfit said earlier this year that he is most interested in doing deals in the US, although he reiterated that valuations being sought for businesses there are stretched - particularly given that interest rates remain at very low levels.

While he said that "America still remains a major opportunity" for Smurfit Kappa, the prospect of doing deals - with Mr Trump in charge of the White House - would be impacted, given the candidate's protectionist stance on international trade.

"Assuming Hillary [Clinton] wins, it won't change anything," he said, referring to the company's interest in US acquisitions.