Its shares, when combined with Klippan Paper chairman Jan Bernanders stake, takes the total combined holding in Inveresk to 26%.

Under the rules of the Takeover Code, which cover both individual shares and those held by an associated company, Klippan would have to make an offer to buy the Alloa-based company when the stake rises to 30%.

Alfa International, acting on behalf of Klippan Paper, bought the shares.

The managing director of Alfa International is Alan Walker, an associate of Klippan Papers chairman Jan Bernander, who last year attempted unsuccessfully to have both men elected to Inveresks non-executive board.