Smurfit Westrock Announces ICSID Award in Dispute with Venezuela
Smurfit WestRock plc Ordinary Shares (SW)
Company Research
Source: Business Wire
DUBLIN--(BUSINESS WIRE)--Smurfit Westrock plc (NYSE: SW, LSE: SWR)(“Smurfit Westrock”) announces that the arbitral tribunal (the “Tribunal”) constituted under the auspices of the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) issued an award on August 28, 2024 granting Smurfit Holdings BV (“Smurfit”), a wholly owned subsidiary of Smurfit Westrock, compensation in excess of US$468.7 million, plus legal costs of US$4.5 million, plus interest from May 31, 2024 until the date of payment (the ‘Award’).The Award was issued in relation to Smurfit’s arbitration claims against the Bolivarian Republic of Venezuela (“Venezuela”) pursuant to the Agreement on encouragement and reciprocal protection of investments between the Kingdom of the Netherlands and the Republic of Venezuela (the “Treaty”), initially filed in December 2018. As previously reported, following the August 2018 government occupation, Smurfit Kappa Group’s Venezuelan operations were deconsoli
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- Smurfit Westrock Ltd (NYSE: SW) had its price target lowered by analysts at JPMorgan Chase & Co. from $66.00 to $65.00. They now have an "overweight" rating on the stock.MarketBeat
- Smurfit Westrock Ltd (NYSE: SW) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $52.00 price target on the stock.MarketBeat
- Smurfit Westrock Reports Second Quarter 2024 Financial ResultsBusiness Wire
SW
Earnings
- 7/30/24 - Miss
SW
Sec Filings
- 8/6/24 - Form 4
- 8/6/24 - Form 4
- 8/6/24 - Form 4
- SW's page on the SEC website