Sappi -- EU approval

Mon, 03 Nov 2008

On 29 September 2008, Sappi announced the proposed acquisition of M-real's Graphic Paper business for EUR750 million. The acquisition is subject to approvals from Sappi shareholders at an extraordinary general meeting ("EGM") and the competition authorities, as well as the implementation of Sappi's planned rights offering. The EU competition authorities have yesterday, 31 October 2008, approved the transaction. The Sappi EGM will be held on 3 November 2008 to consider the transaction.