Smurfit WestRock plc has completed a significant transaction involving Smurfit Kappa Group plc and WestRock Company. Smurfit WestRock acquired Smurfit Kappa and simultaneously, subsidiary Sun Merger Sub, LLC merged with and into WestRock, with WestRock as the surviving entity. Both Smurfit Kappa and WestRock are now wholly owned subsidiaries of Smurfit WestRock.
Additionally, Smurfit WestRock has established indemnification agreements with certain directors and officers. These agree to indemnify against expenses incurred due to their roles in the company to the extent permitted by Irish law.
Furthermore, a new multicurrency term and revolving facilities agreement has been entered into, where loans will bear interest based on the respective currencies and other factors such appslicable interest rate margin fluctuation.
Smurfit WestRock, along with other subsidiaries, has also guaranteed existing bond indebtedness of both Smurfit Kappa and WestRock subsidiaries.
The full list of proper names mentioned throughout the text includes: Smurfit WestRock plc, Smurfit Kappa Group plc, WestRock Company, Sun Merger Sub, LLC, Smurfit US Holdings Corporation, Wells Fargo Bank, National Association, Smurfit Kappa Investments Limited, Smurfit Kappa Treasury Unlimited Company, Smurfit Kappa Acquisitions Unlimited Company, Deutsche Trustee Company Limited, The Bank of New York Mellon, WRKCo Inc., WestRock MWV, LLC, WestRock RKT, LLC, CoBank, ACB, and National Westminster Bank plc.