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Commission clears Sappi's acquisition of M-real's graphic paper business without conditions

The European Commission has approved the acquisition by paper manufacturer Sappi of M-real's graphic paper business. The parties' activities overlap mainly in the production of wood-free coated paper, used in high-quality commercial printing. Within the EEA, Sappi and M-real are currently the number 1 and number 3 producers of wood-free coated paper: despite these market positions, the Commission concluded that customers would still have a choice between a number of suppliers after the proposed transaction, and so cleared the merger with no conditions. Sappi and M-real were advised by a CRA team including Cristina Caffarra, Ian Small, Pascale Dechamps and Jenny Haydock.

See Commission press release for further details.

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