Sale of Belgrade Paper Factory, Avala Ada approved

The Serbian Commission for Protection of Competition has approved a concentration by Dublin-based Smurfit Kappa Group through an indirect acquisition of paper and packaging producers Belgrade Paper Factory and Avala Ada.

21 Jan 2019 16:12

BELGRADE - The Serbian Commission for Protection of Competition has approved a concentration by Dublin-based Smurfit Kappa Group through an indirect acquisition of paper and packaging producers Belgrade Paper Factory and Avala Ada.


Through its Netherlands-based subsidiary Smurfit Kappa Europe, the group has acquired a 75 pct stake in both companies, based in Belgrade.


The commission decided to permit a sale of the stake by the owner, Kappa Star, to Smurfit Kappa Group, one of the world's largest manufacturers of paper packaging.


In the decision, the commission said there was no concern over any criterion for assessing the permissibility of concentration.


Smurfit Kappa Group announced in November it had acquired the two factories for 133 mln euros.

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