Smurfit Kappa Announces Intention to Launch a Tender Offer to Acquire the Minority Shares in Cartón de Colombia S.A.
March 20, 2019Smurfit Kappa Group
plc is pleased to announce that it intends, subject to the approval of
the Superintendencia Financiera de Colombia, to launch a tender offer to
acquire the minority shares in Cartón de Colombia S.A. (“Cartón”) for
cash. Smurfit Kappa currently holds 69.94% of the shares in Cartón.
Certain minority shareholders of Cartón, who hold approximately 15.54% of the shares
in Cartón have entered agreements with Smurfit Kappa to tender their shares
into the Transaction once launched.
The consideration payable under the Transaction, if all the minority shares are
tendered, will amount to approximately EUR €90 million and will be funded from
the Group’s existing cash resources. It is expected that the Transaction will
complete in the second quarter, subject to customary completion conditions and
adjustments and regulatory approval.