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EU clearance for sale of M-real's Graphic Papers business.

Europe Intelligence Wire

| November 01, 2008 | COPYRIGHT 2008 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Hugin)

M-real Corporation Press Release 1 November 2008

On 29 September 2008, M-real announced the sale of its Graphic Papers business to South African Sappi Limited for EUR 750 million. The sale is subject to the approvals by the Sappi shareholders' meeting and the competition authorities, as well as the implementation of Sappi's planned rights offering.

The EU competition authorities have on 31 October 2008 approved the transaction. Also the US competition authorities have approved the transaction.

The Sappi extraordinary ...

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