EU Probes $1.7bn UPM‑Sappi Paper JV

European Commission opened antitrust investigation into $1.7 bn UPM‑Kymmene and Sappi paper joint venture in Europe.
Deal would merge UPM’s communication papers unit with Sappi’s graphic paper business, raising concerns of reduced capacity and higher prices.
Regulators note both firms are major suppliers of coated mechanical and wood‑free coated paper in Europe, fearing limited competition.
EU may require concessions such as asset sales; UPM says it continues constructive engagement with the watchdog.