Notification of Italian Competition Authority Decision
Smurfit Kappa Group plc (“Smurfit Kappa”, “SKG” or the “Group”) confirms that one of its subsidiaries, Smurfit Kappa Italia, S.p.A. (“SKI”), has been notified today of a decision from the Italian Competition Authority (“ICA”) regarding proceedings initiated in early 2017 in respect of a market-wide investigation in Italy against approximately 50 companies (including the largest participants in the market). SKI fully co-operated with the investigation. The ICA has notified these 50 companies (including SKI) that they have been found to have engaged in anti-competitive practices in Italy and the ICA has levied a fine of € 124 million on SKI. This cost will be taken as an exceptional charge in the current year.
SKG is very disappointed with the decision of the ICA on many levels and will vigorously appeal this decision on both administrative and substantive grounds. This process will take a number of years. SKG is committed to the highest standards of conduct in its business and will not tolerate any actions that are inconsistent with its values.
Enquiries:
Smurfit Kappa
Garrett Quinn (Investor Relations) Tel: +353 (0)1 202 7000
K Capital (Public relations adviser)
Mark Kenny
Tel: +353 (0)86 242 9616
SKG is very disappointed with the decision of the ICA on many levels and will vigorously appeal this decision on both administrative and substantive grounds. This process will take a number of years. SKG is committed to the highest standards of conduct in its business and will not tolerate any actions that are inconsistent with its values.
Enquiries:
Smurfit Kappa
Garrett Quinn (Investor Relations) Tel: +353 (0)1 202 7000
K Capital (Public relations adviser)
Mark Kenny
Tel: +353 (0)86 242 9616
