Advisers land millions in Smurfit case windfall

Advisers land millions in Smurfit case windfall
Smurfit Kappa to take €60m Venezuela hit

Packaging giant Smurfit Kappa’s successful defence against a takeover bid by International Paper resulted in a fee bonanza for its advisers.

Dublin-headquartered Smurfit incurred costs of €17 million between February and the end of June to see off International Paper, the company disclosed last week.

The unsolicited approach by International Paper meant an enhanced workload for the company’s financial, legal, accounting and PR advisers over the period. Smurfit was represented by longtime financial adviser Davy...

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