Smurfit Kappa ups Carton de Colombia stake to 97.7% after buying out minority holdings
June 12, 2019
DUBLIN (News release) -- Smurfit Kappa Group said it had upped its interest in Carton de Colombia to 97.7% after making a tender offer for minority shares in the business.
Smurfit Kappa had held 69.9% of the business prior to the tender offer, which received valid acceptances of 92.5% of the remaining shares.
The consideration payable under the tender offer was around €81m and was being funded from existing resources, the company said.
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