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WestRock and Smurfit Kappa to Combine in $20 Billion Deal
- Client News
- September 12, 2023
Paul, Weiss is advising U.S.-based corrugated packaging company WestRock in its $20 billion combination with Europe's leading corrugated packaging company Smurfit Kappa to create Smurfit WestRock. Upon closing of the transaction, Smurfit WestRock will be listed on the NYSE and the LSE, and will become the largest listed global packaging partner by revenue.
Under the terms of the deal, WestRock common stockholders will receive one new Smurfit WestRock share and $5.00 in cash for each share of WestRock common stock. Smurfit WestRock will be incorporated in Ireland with global headquarters in Dublin, Ireland and its North and South American operations will be headquartered in Atlanta, Georgia. The transaction, to be effected through an Irish scheme of arrangement, is expected to close in the second quarter of 2024, subject to customary closing conditions.
The Paul, Weiss team is led by Laura Turano, Cristina Amodeo and Scott Barshay, and includes corporate partners Christodoulos Kaoutzanis, John Kennedy and Caith Kushner, and counsel Patricia Vaz de Almeida, Elizabeth Scherer and Jason Tyler; executive compensation partner Jarrett Hoffman; tax partner Brian Krause and counsel Sarah Katz; litigation partners Joshua Soven, Scott Sher, Geoffrey Chepiga, John Carlin and Andre Bouchard, and counsel Peter Jaffe and Steven Herzog; intellectual property partner Claudine Meredith-Goujon; real estate partner Peter Fisch; finance partners David Carmona, Manuel Frey and Charles Pesant; environmental counsel William O’Brien; and antitrust counsel Marta Kelly.