Smurfit Kappa Group Plc (ISE:SK3) signed an agreement to acquire Verzuolo mill from Burgo Group S.p.A. for 360 million in cash on July 28, 2021. The cash consideration will be funded from the Groups existing resources. Transaction is subject to customary closing conditions including regulatory approval. The transaction is unanimously approved by the Board of Directors of Burgo. Acquisition is expected that the acquisition will complete during the fourth quarter of 2021 and is immediately earnings accretive.
Smurfit Kappa Group Plc (ISE:SK3) completed the acquisition of Verzuolo mill from Burgo Group S.p.A. on October 08, 2021. Customary closing conditions have now been satisfied.