Linklaters advises Mondi plc in connection with its possible all-share combination with DS Smith plc

Linklaters is pleased to be advising Mondi plc on its possible all-share combination with DS Smith plc.

The possible combination is an exciting opportunity to create a pan-European industry leader in paper-based sustainable packaging solutions, with complementary geographic footprints, leading customer relationships, a strong balance sheet and cash flow profile, and the potential to deliver substantial benefits to respective shareholders, customers, employees and related stakeholders.

As a result of the possible combination, Mondi would acquire the entire issued and to be issued share capital of DS Smith. Mondi shareholders would own 54% and DS Smith shareholders would own 46% of the issued and to be issued share capital of Mondi.

Mondi is a global leader in packaging and paper, contributing to a better world by producing products that are sustainable by design. Mondi employs 22,000 people in more than 30 countries and operates an integrated business with expertise spanning the entire value chain, enabling Mondi to offer its customers a broad range of innovative solutions for consumer and industrial end-use applications. Sustainability is at the centre of Mondi’s strategy, with its ambitious commitments to 2030 focused on circular driven solutions, created by empowered people, taking action on climate.

The cross-practice team advising Mondi is being led by Corporate Partners Aisling Zarraga and Matthew Hearn, Corporate Managing Associate Thomas Bishop, US Corporate Associate Igor Rogovoy, Employment & Incentives Partners Bradley Richardson and Cara Hegarty, Capital Markets Partner Ben Dulieu, Finance Partner Benedict James, Finance Managing Associate Atish Shah and Tax Partners Rhian Parker and Sam Lintonbon.

This is the latest in a series of high-profile takeover transactions by Linklaters’ UK Public M&A team. Recent transactions have included:

  1. Spirent Communications plc on its c. £1bn recommended offer from Viavi Solutions Inc.
  2. Barratt Developments plc on its c. £2.5bn all-share offer for Redrow plc
  3. Brookfield on its c. £2.2bn recommended cash and partial share offer for Network International Holdings plc
  4. BC Partners on its c. £239m cash offer for Kin and Carta plc