The European Commission said that the parties’ offer to sell five of International Paper’s plants in Europe fully addresses its competition concerns over the deal.

International Paper (IP) won European Union approval for its planned £5.8 billion ($7.2 billion) of DS Smith (DSSMY)

BRUSSELS (Reuters) -U.S.-based International Paper is set to get EU approval for its 5.8 billion pound ($7.12 billion) purchase of UK rival DS Smith after agreeing to sell assets to address competition concerns, people with direct knowledge of the matter said on Tuesday.

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. Citing sources familiar with the matter, Reuters reported that the move comes after IP agreed to sell certain assets to resolve competition concerns.