EU clearance for Sappi’s acquisition of M-real’s graphic papers business

On 29 September 2008, Sappi announced the proposed acquisition of M-real’s Graphic Paper business for 750 million euros.

The EU competition authorities have now approved the transaction. Commenting on the news, Sappi chief executive Ralph Bottger said: ‘We are delighted that the European Competition Commission has given its approval for this transaction. It is a strong stamp of approval for our acquisition and paves the way for us to drive long awaited consolidation and transformation of the European coated fine paper sector, while creating significant value for Sappi shareholders.’