(22.05.2012 / sha)

UPM: Sale of packaging paper operations to Billerud approved

UPM’s sale of its packaging paper operations of the Pietarsaari and Tervasaari mills to the Swedish paper company Billerud has been approved by the regulatory authorities. UPM and Billerud announced the transaction on 1 February 2012.

The closing of the transaction is expected to take place during the second quarter of 2012. The enterprise value of the transaction is EUR 130 million.