BRUSSELS, Jan 24 (Reuters) - U.S.-based International

Paper ( IP ) secured EU clearance for its 5.8-billion-pound

($7.2 billion) acquisition of UK rival DS Smith ( DITHF ) with a

pledge to sell assets to address competition concerns.

International Paper ( IP ) is seeking to boost its European

presence in the paper and packaging sector with the deal amid

consolidation in the industry.

The European Commission said the U.S. packaging company will

divest five of its plants in Europe. These include three plants

in France, one in Portugal and one in Spain.

Reuters exclusively reported on Jan. 21 that the EU

antitrust enforcer would give conditional approval to the deal.

DS Smith ( DITHF ), which provides packaging, paper and recycling

services to companies including Amazon ( AMZN ) and Unilever ( UL )

, has operations in more than 30 countries.

($1 = 0.8114 pounds)