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Prices & Quotes - UK Markets - Smurfit Kappa Group (SKG)

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Share Price:
Down 3,248.00p
Change Today:
-42.00p
Market Cap:
8,379m
Sector:
General Industrials

Smurfit Kappa buys two Serbian facilities

By Josh White

Date: Wednesday 31 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Smurfit Kappa Group has agreed to acquire the Fabrika Hartije d.o.o. Beograd (FHB) paper mill and the Avala Ada d.o.o. Beograd (Avala Ada) corrugated plant in Belgrade, for a consideration of €133m, from Kappa Star Group, it announced on Wednesday.
The FTSE 100 packaging conglomerate said the acquisition would expand its geographic footprint, and provide for full containerboard integration in its packaging operations in south east Europe.

It said FHB and Avala Ada were "well invested" businesses, with a "leading" market position in Serbia and solid positions in adjacent countries.

The containerboard mill held one recently-upgraded recycled containerboard machine with a current capacity of 120,000 tonnes, and "significant potential" to drive synergies and further increase capacity with a limited investment of capital.

Smurfit Kappa said the corrugated plant had a current production of approximately 110 million square metres, and produced both corrugated and laminated packaging.

Its customer base was predominantly composed of local and national customers, providing a "strong platform" for organic growth with Smurfit Kappa's pan-European and multinational customers in the region.

More: Smurfit Kappa sees decent growth after third quarter

The transaction reflected a pre-synergy multiple of 7.6x the expected full-year 2018 EBITDA, with the consideration to be funded from the group's existing resources.

It said it expected that the transaction would complete by year-end, subject to customary completion conditions.

More: Boardroom veteran Irial Finan to chair Smurfit Kappa

"We are pleased to announce our agreement to acquire FHB and Avala Ada, which will be a cornerstone to the expansion of our business in south east Europe," said Smurfit Kappa chief executive officer Tony Smurfit.

"We look forward to welcoming their experienced teams into the Smurfit Kappa Group, and we are confident their expertise and the high quality of the companies' asset bases will provide us with an excellent platform to grow in the region and further strengthen our European offering for our new and existing customers."

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SKG Market Data

Currency UK Pounds
Price 3,248.00p
Change Today -42.00p
52 Week High 3,332.00p
52 Week Low 1,944.00p
Volume 207,255
Shares Issued 257.98m
Market Cap 8,379m

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What The Brokers Say

Strong Buy 6
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SKG Dividends

  Latest Previous
  2nd Interim Interim
Ex-Div 19-Nov-20 13-Aug-20
Paid 11-Dec-20 11-Sep-20
Amount 27.90¢ 80.90¢

Trades for 03-Dec-2020

Time Volume / Share Price
16:35 54,386 @ 3,248.00p
16:29 114 @ 3,248.00p
16:29 70 @ 3,248.00p
16:29 91 @ 3,250.00p
16:29 110 @ 3,252.00p

SKG Key Personnel

CEO Tony Smurfit