January 19, 2012 6:10 PM
Allen Overy, Clifford Chance Advise on $2 Billion Packaging Merger
Posted by Brian Baxter
British recycled packaging maker DS Smith announced this week it has agreed to pay $2 billion to acquire the packaging unit of Sweden’s Svenska Cellulosa (SCA), one of the world’s largest paper and forestry companies.
Clifford Chance is representing SCA on the deal, with corporate partners Jonathan Beastall and Steven Fox in London leading the firm’s team working on the proposed transaction. The Magic Circle firm is a longtime legal adviser to the Stockholm-based company.
Anders Nyberg serves as SCA’s general counsel and senior vice president for corporate legal affairs.
Rival Magic Circle firm Allen Overy is representing longtime client DS Smith on the acquisition through relationship partner Don McGown. The Maidenhead, England–based company, one of the top paper and corrugated packaging producers in the U.K., hopes to use its purchase of SCA’s packaging unit to bolster its foothold throughout the rest of Europe.
“We are very pleased to have assisted our long term client DS Smith on this transformational transaction, which should enable the company to become a leading packaging business across continental Europe,” McGown said Read More from the Article Source: Full Article
