Jefferson Smurfit will develop a business in Asia by taking a one-quarter stake in a Hong Kong paper firm.
The group will pay about $21 million (€23.1 million) for 25 per cent of Leefung-Asco Printers Holding, which has operations in Hong Kong and in mainland China.
Its principal operating subsidiaries print books, magazines and packaging products.
In a statement yesterday, Smurfit said the $21 million would be used to expand Leefung's packaging and print operations, in mainland China mostly.
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Chairman and chief executive Dr Michael Smurfit said the deal was consistent with the group's global positioning.
