(Finland)--Nov 3, 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 shareholders' meeting will be held on 3 November 2008 to consider the transaction, after which Sappi's aim is to implement the planned rights offering. The sale is expected to be completed after the implementation of the rights offering during the first quarter of 2009 at the latest.
M-REAL CORPORATION
M-real is one of Europe’s leading producers of paperboard and paper. It offers premium solutions for consumer packaging and communications and advertising end-uses. M-real’s global sales network serves converters, brand owners, publishers, printing houses, merchants and office suppliers.
M-real is part of Metsäliitto Group and is listed on the NASDAQ OMX Helsinki Ltd. In 2007, M-real’s sales totalled EUR 3.5 billion. M-real has approximately 9,000 employees.
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