DS Smith sold two packaging businesses to International Paper Company for €63m.

DS Smith, a British-based international packaging firm, sold two packaging businesses in North Western France and Portugal to International Paper Company, an American pulp and paper company, for €63m. The sales would fulfil the commitment made to the European Commission in relation to the clearance of DS Smith's acquisition of Papeles y Cartones de Europa. Miles Roberts, Group Chief Executive, said "I am delighted that we are on track to meet our commitment to the European Commission with both an attractive price and a good home for the businesses in International Paper."