Statement re Cartón de Colombia S.A.

11 Jun 2019 09:00

Smurfit Kappa announces level of acceptances received in respect of tender offer for minority shares in Cartón de Colombia S.A. – 92.5% of minority shares tendered

Smurfit Kappa Group plc (“Smurfit Kappa” or the “Group”), one of the world's largest integrated manufacturers of paper-based packaging products with operations in Europe and the Americas, is pleased to announce that, as of 6 June 2019, being the closing date for receipt of acceptances in respect of the tender offer (the "Tender Offer") made by Smurfit Kappa to acquire the minority shares in Cartón de Colombia S.A. ("Cartón"), as announced on 14 March 2019, valid acceptances had been received in respect of 29,945,394 Cartón shares representing approximately 92.5% of the Cartón shares which were the subject of the Tender Offer.

The consideration payable under the Tender Offer amounts to approximately €81 million and is being funded from the Group's existing resources. It is expected that the Tender Offer will complete this week subject to customary completion conditions and adjustments and regulatory approval.

Smurfit Kappa held 69.94% of the shares in Cartón prior to the Tender Offer and will now hold 97.7% post completion of the Tender Offer.

The Tender Offer remains subject to the terms and conditions set out in the tender offer documentation.

ENDS

Enquiries:

About Smurfit Kappa

Smurfit Kappa, a FTSE 100 company, is one of the leading providers of paper-based packaging solutions in the world, with approximately 46,000 employees in over 350 production sites across 35 countries and with revenue of €8.9 billion in 2018. We are located in 23 countries in Europe, and 12 in the Americas. We are the only large-scale pan-regional player in Latin America.

With our proactive team we relentlessly use our extensive experience and expertise, supported by our scale, to open up opportunities for our customers. We collaborate with forward-thinking customers by sharing superior product knowledge, market understanding and insights in packaging trends to ensure business success in their markets. We have an unrivalled portfolio of paper-packaging solutions, which is constantly updated with our market-leading innovations. This is enhanced through the benefits of our integration, with optimal paper design, logistics, timeliness of service, and our packaging plants sourcing most of their raw materials from our own paper mills.

Our products, which are 100% renewable and produced sustainably, improve the environmental footprint of our customers.

About Cartón

Cartón produces and sells virgin fibre pulp and packaging products in Colombia. The company also sells corrugated boxes and paper sacks and printing and writing papers. In addition, it is involved in the recycling of boxes and used papers; reforestation activities; and production and marketing of pine and eucalyptus seedlings. The company is based in Yumbo, Colombia. Shares of Cartón are listed on the Bolsa de Valores de Colombia.

Follow us on Twitter at @smurfitkappa and on LinkedIn at ‘Smurfit Kappa’.

www.smurfitkappa.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20190611005076/en/

Copyright Business Wire 2019