Imagination Park Entertainments Receives Conditional Clearance for Business Combination with DS Smith Plc

Imagination Park Entertainment (CNSX:IP) recently announced that the European Commission has issued conditional Phase I clearance regarding its proposed business combination with DS Smith Plc. The clearance, received on January 24, 2025, includes commitments from Imagination Park to divest specific plants in France, Portugal, and Spain.

This strategic move, originally announced on April 16, 2024, involves the recommended all-share combination of DS Smith with Imagination Park. Upon completion, DS Smith shareholders are set to receive New International Paper Shares, providing them with equal rights to dividends and distributions as existing International Paper shareholders.

While Imagination Park expressed a preference to retain the selected sites, including those earmarked for divestment, they are optimistic about finding suitable buyers for these locations. Andrew Silvernail, a representative from International Paper, stated, “This combination will create a global leader in sustainable packaging solutions, focused on the attractive and growing North American and EMEA regions.”

The business combination is still pending Court sanctioning of the Scheme, delivery of the Court Order, and fulfillment of additional conditions outlined in the Scheme Document. The expected timeline anticipates the Scheme becoming effective on January 31, 2025.

Imagination Park (NYSE: IP) is recognized as a global producer of sustainable packaging, pulp, and fiber-based products. The company employs about 39,000 individuals globally, striving to innovate and lead within the industry. For the fiscal year ending December 2023, the company reported net sales of $18.9 billion.

The combination between Imagination Park and DS Smith Plc remains subject to regulatory approval and fulfilling various legal obligations. Forward-looking statements have been made, acknowledging potential risks and uncertainties that could affect the outcome of this significant merger. Interested parties are encouraged to stay informed with further developments as they unfold.

This communication is intended for informational purposes only and does not constitute an offer to sell or solicit purchases or subscriptions for securities. It’s imperative to consult with independent advisors for a comprehensive understanding of potential financial impacts associated with the business combination.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Imagination Park Entertainment’s 8K filing here.

About Imagination Park Entertainment

Imagination Park Entertainment Inc creates engaging and interactive content to users through a cloud-based augmented reality (AR) enterprise platform in Canada. Its products include XenoMark, an AR content activation mobile app that allows to create and deploy AR activations by location and visual markers; XenoPlay, an AR mobile browser app; and XenoCloud, a centralized content management system.