JSG sale of unit may net €500m

JEFFERSON Smurfit is in talks to sell its Swedish speciality paper business, Munksjö, in a deal that could be worth up to €500 million.

The company said the Swiss investment bank, UBS has been appointed to lead the talks.

It is not known who made the approach to the company, though market sources said all of the main international competitors to Smurfit are likely to be interested as well as financial buyers.