Ireland's High Court to hear from JSG

Jefferson Smurfit Group reported of its petition for a capital reduction to be heard in the High Court of Ireland on 27 August 2002. It was expected that the $ 3.6 billion takeover by U.S private equity group Madison Dearborn Partners (MDP) would close in the first week of September 2002. MDP needs Irish High Court's approval for the reduction in share hold capital so that the Smurfit-Stone Container Corporation (SSCC) can provide capital gain to the company.