Smurfit confirms Mondi negotiations

Smurfit Kappa Group plc (‘SKG’) today confirmed that negotiations are progressing with paper and packaging group Mondi that would involve SKG acquiring Mondi Group’s corrugated operations in the UK and Mondi Group acquiring SKG’s European sack converting operations.

"The transaction is subject to the normal procedures and conditions attaching to such transactions and is also subject to regulatory clearances," a statement said.

The company said there was no certainty that any such transaction would occur and that further announcements would be made as appropriate.