SCA has seen European Commission (EC) approval for the disposal of its packaging operations to DS Smith.
It will exclude two Kraftliner mills in Sweden, but the deal will see DS Smith take on all other packaging operations presently held by SCA. The price of the deal stands at approximately 1.7 billion euros (1.36 billion pounds), with the division currently employing in excess of 12,000 workers.
DS Smith is a European supplier of recycled packaging for consumer goods and presently has a turnover of around 2.5 billion pounds per annum.
Jan Johansson, president and chief executive officer of SCA, commented: "The most important condition for finalising the deal has now been fulfilled.
"Today's decision by the EU will enable SCA to continue to strengthen and consolidate its positions in the hygiene and forest products areas."
SCA is a global hygiene and paper company functioning in a number of business areas including personal care, tissue, packaging and forest products. It presently operates in more than 100 countries, employing in excess of 44,000 individuals.See all the latest jobs in Medical Devices