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M-real Oyj (HEL:MRL) M-real Corporation Press Release 1 November 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
Further information: Seppo Parvi, CFO, tel. +358 10 465 4321 Juha Laine, VP, IR and Communications, +358 10 465 4335
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
