EU Commission Issues Statement of Objections on UPM-Sappi Joint Venture
The European Commission has issued a Statement of Objections to UPM and Sappi regarding their planned graphic paper joint venture, as part of the merger control approval process.
Helsinki – The European Commission has issued a Statement of Objections concerning the planned graphic paper joint venture between UPM and Sappi. This formal statement is a customary step during the Commission's in-depth review of the proposed merger.
The Commission has detailed its preliminary concerns regarding the venture in the Statement of Objections. UPM and Sappi are carefully reviewing the document and will provide their response in due course, expressing confidence in addressing the concerns raised.
The proposed joint venture aims to combine the graphic paper businesses of both UPM and Sappi. The transaction is subject to regulatory approval from the European Commission before it can be completed.
This development signifies a crucial stage in the approval process. The companies will now engage with the Commission to resolve the identified competition issues.