Global hygiene and paper company SCA (SVCBY.PK) Wednesday announced that it has accepted the formal offer from D S Smith to acquire the packaging operations in France.
The company revealed that it had signed a sale and purchase agreement with D S Smith, after having consultations with the appropriate works councils.
SCA further added that, following the signing of the sale and purchase agreement between the two parties, the process will continue towards completing the entire transaction, which includes review of relevant competition authorities.
SCA expects that the transaction would be concluded during the second quarter of 2012.
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