British packager DS Smith says to buy Austria's Duropack

Feb 23 (Reuters) - DS Smith, a maker of corrugated,recycled paper and plastic packaging, said it agreed to buyVienna-based packaging business Duropack for about 300 millioneuros ($340.6 million) from a subsidiary of One Equity Partners.

DS Smith, whose customers include Procter & Gamble Co, Nestle SA and Unilever Plc, said theacquisition would be financed from existing debt facilities andimmediately add to earnings per share.

DS Smith said it expected the acquisition, which is subjectto competition clearance, to be completed in the second quarter.($1 = 0.8808 euros) (Reporting by Aashika Jain in Bengaluru; Editing by AnupamaDwivedi)

Smith (DS)