Smurfit Kappa agrees to buy Dutch paper firm Reparenco

Smurfit’s chief executive Tony Smurfit said The acquisition of Reparenco is complementary with our existing business; strengthens our integrated business model; and accelerates a central element of the companys medium term plan-The Irish company said negotiations to buy the Dutch business began on February 1, before IP made its first bid approach. Smurfit Kappa PLC (LONSKP) has agreed to buy Dutch paper and recycling firm Reparenco for around €460mln (US$539mln) in a move designed to counter a takeover bid from US rival International Paper (NYSEIP).