Sustainable packaging solutions provider International Paper (IP) is set to receive approval from the EU for its £5.8bn ($7.12bn) acquisition of UK competitor DS Smith. …Reuters reported that the move comes after IP agreed to sell certain assets to resolve competition concerns. The European Commission is expected to make a formal decision on the deal by Friday (24 January). In March last year, IP made an all-share offer to acquire the entire issued share capital of the British packaging company DS Smith. …The all-share transaction would result in DS Smith’s shareholders owning approximately 33.8% of the combined entity. …The deal, now awaiting approval from the European Commission, is expected to enhance IP’s presence in the European paper and packaging sector, which is undergoing consolidation.