DS Smith acquires Carlyle's majority stake in Otor
Sep 02, 2010. DS Smith has acquired all the shares held directly and indirectly by The Carlyle Group in Otor S.A. (representing 94.75% of the share capital of Otor), together with shares in Otor held by management. As a result of this transaction, DS Smith holds directly and indirectly more than 95 % of the share capital and voting rights of Otor. The price paid by DS Smith is Euro 8.97 per Otor share.
Sep 02, 2010. /Lesprom Network/. DS Smith has acquired all the shares held directly and indirectly by The Carlyle Group in Otor S.A. (representing 94.75% of the share capital of Otor), together with shares in Otor held by management. As a result of this transaction, DS Smith holds directly and indirectly more than 95 % of the share capital and voting rights of Otor. The price paid by DS Smith is Euro 8.97 per Otor share, company said in a statement received by Lesprom Network.
In accordance with applicable French regulations, DS Smith will in due course file a draft simplified cash offer in respect of the remaining Otor shares to be followed by a squeeze out, at a price of EUR 8.97 per Otor share.
DS Smith PLC is an international Group focused on the production of packaging and paper and the distribution and manufacture of office products.