EU formally challenges Sappi’s $1.66 billion plan to create Europe’s biggest paper producer
The European Union has formally challenged South African multinational Sappi’s €1.42 billion, approximately $1.66 billion, plan to combine major paper operations with Finland’s UPM. The European Commission has formally raised objections to Sappi and UPM’s proposed €1.42 billion paper joint venture. The regulator fears the transaction could create Europe’s leading communication-paper producer and weaken competition.…














