StockMarketWire.com - Packaging company DS Smith said it had completed the sale of two packaging businesses in France and Portugal to International Paper for €63m (£56m).

The sale fulfiled a commitment made to the European Commission in relation to the clearance of DS Smith's acquisition of Papeles y Cartones de Europa, known as Europac, which completed on 22 January 2019.

'We are delighted to have completed this transaction, which ensures that the business and colleagues have found a good home at an attractive price for the business,' chief executive Miles Roberts said.

'The integration of Europac is progressing well and we are very pleased with the quality of our customer offering in the region.'

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