International Paper's EMEA unit, DS Smith, plans LSE and NYSE listing
What happened
International Paper is undertaking a restructuring that involves spinning off its Europe, Middle East and Africa (EMEA) packaging business. The proposed EMEA company has been identified as DS Smith plc, which will combine legacy International Paper and DS Smith assets. DS Smith plc is expected to list on the London Stock Exchange and establish a Level II American depositary receipt (ADR) program on the New York Stock Exchange. The completion of the separation remains dependent on board approval and regulatory filings.
From econotimes.com
Why it matters
The spin-off creates a new, publicly traded competitor in the packaging market. The planned listing and ADR program are expected to increase demand for M&A and underwriting services. This corporate restructuring is also set to increase financial activity in the European market.
From econotimes.com
Who's involved
- International PaperAmerican pulp and paper company undertaking the spin-off of its EMEA packaging business.
- DS SmithThe proposed name of the EMEA packaging business being spun off.
- London Stock ExchangeStock exchange where DS Smith plc is expected to list.
- New York Stock ExchangeAmerican stock exchange where DS Smith plc will use an ADR program.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Goldman SachsSpeculative
Goldman Sachs could see increased demand for M&A and underwriting services related to the listing.
- Morgan StanleySpeculative
Morgan Stanley could see increased demand for M&A and underwriting services related to the listing.
Keep exploring
The entities involved
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London Stock Exchange
stock exchange in the City of London
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New York Stock Exchange
American stock exchange
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International Paper
American pulp and paper company