BRUSSELS, April 13, 2015 (RISI) - The Russian OBF group has divested its Astrakhan corrugated packaging plant located in southwestern Russia.
The asset was sold to the Diamond investor group, OBF said. The cost of the deal, which was finalized in March, was not disclosed.
OBF said that the divestment of the Astrakhan plant is part of the group's strategy to focus on containerboard production, adding that the corrugated packaging business is not on the firm's current priority list.Read more
BRUSSELS, April 13, 2015 (RISI) - Smurfit Kappa Group (SKG) has declined to comment on reports that it might be snapped up by the US-based packaging giant International Paper (IP).
Yesterday, several major UK papers, including The Sunday Times and The Telegraph, wrote that IP is working on a potential takeover bid for Smurfit Kappa worth over £6 billion ($8.7 billion).
SKG posted revenues of Euro 8.083 billion ($8.51 billion) in its full 2014 financial year,.