Unipapel has offered concessions to EU competition regulators in order to gain regulatory approval for its purchase of European office products wholesaler Spicers from packaging and office products firm DS Smith, according to Reuters.
The news agency reported that proposals were submitted on Tuesday to the European Commission, but no details were given, in keeping with its policy. The European Union executive extended its deadline for a decision on the deal to December 20 from December 6 to assess the concessions.
UK packaging group DS Smith accepted a 200 million pounds (€225 million) offer from Spain’s Unipapel, with the UK and Irish operations being sold to UK investment group Better Capital.
The addition of Spicers’ continental European business will bring Unipapel’s annual sales to around €1.3 billion, making it the largest office and IT supplies wholesaler in Europe.