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FTSE-100 packaging company DS Smith has revealed plans to buy Spanish rival Europac at a cost of almost £1.7 million.
Europac is currently a 42% owned family business. The deal will include the refinancing of the company's existing debt and is subject to shareholders agreement. It also needs to meet merger control approval from the European Commission.
Set up in 1995, Europac operates from 23 . . .
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