UPM and Sappi Given More Time for EU Remedies
The European Commission granted UPM and Sappi an extra twenty days until December to submit remedies for their paper joint venture. The companies plan to offer remedies to address EU antitrust concerns regarding the billion-euro deal.
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UPM-KYMMENE OYJ and SAPPI LIMITED secured an additional 20-day extension until December 9 to propose remedies for their €1.42 billion ($1.6 billion) paper joint venture. The European Commission granted the extension following a formal request from the notifying parties. The decision pauses antitrust scrutiny after regulators reiterated competition concerns.
