CVC and Cinven cash in on Smurfit Kappa

A London Stock Exchange filing shows that Smurfit Kappa Feeder – a holding owned by CVC and Cinven – sold 10 million shares at €8 per share, following on the sale of a 7% stake last week by Madison Dearborn Partners.

The investors created Smurfit Kappa in 2005 by merging Kappa Industries, a company regrouping Dutch business NV Koninklijke KNP BT and the container board unit of AssiDomän, and Jefferson Smurfit. They listed the company in March 2007.

The business suffered during the financial crisis and saw its share price nose-diving from €20.75 to €1.06 in 2008. However,  the business stock value has doubled over the past year, from around €4 to €8 per share.

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• UK / Ireland
• CVC Capital Partners