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JSE-listed packaging and paper producer Mondi confirmed on Thursday it is considering an all-share merger with UK multinational DS Smith which would create a combined group worth over £10 billion (about R239 billion).
Mondi, valued at £5.86 billion in London, its primary listing, said in a statement it is in the early stages of considering a deal which would be an opportunity to create an industry leader in European paper-based sustainable packaging.
Mondi employs about 22 000 at 100 production sites in more than 30 countries, including two production sites in SA in Richards Bay and Durban, with production from the country accounting for about 7.5% of group revenue in 2022.
