EU issues objection to UPM, Sappi venture to merge paper business

The European Commission has issued a Statement of Objections as part of the merger control approval process for the planned graphic paper Joint Venture between the Finnish forest-based bio-industry company UPM and Sappi, said UPM in a press release on Wednesday.

The adoption of a Statement of Objections (SO) is a customary step during an in-depth merger investigation by the European Commission.

In the order , the Commission has provided more details on its preliminary concerns. Together with Sappi, UPM is reviewing the order carefully and will respond in due course.

UPM will continue to engage constructively with the Commission during the next stages of the ongoing investigation.