Read our Privacy noticePaper and packaging giant DS Smith is set to return to the London market just a year after being bought by a US rival in a deal worth £5.8 billion. Memphis-based International Paper plans to de-merge its European, Middle East and Africa division – largely made up of the DS Smith business – through a listing on both the London and New York stock exchanges. It comes a year after DS Smith disappeared from the London market when it was snapped up by International Paper in a deal which created one of the world’s largest packaging manufacturers. The EMEA business – which is expected to be called DS Smith – currently operates across 30 countries and will include the regional operations of DS Smith and International Paper. “The two businesses operate in distinct market environments and are at different stages of their transformation.