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Brazil: CADE approves of Finnish, Swedish paper maker union

By  |  May 23, 2013
Brazil: CADE approves of Finnish, Swedish paper maker union

Brazil’s antitrust regulator CADE has announced its approval for a merger between two companies that will create the world’s largest specialty paper manufacturer, say reports. Sweden-based Munksjo AB and Finland-based Ahlstrom have been approved by regulators to combine and the two materials manufacturers now expect to complete the first phase of the transaction near the end of the month so long as approval is obtained by the European Commission; sources said Wednesday they expect European approval to be reached. According to a press release, CADE has approved of the merger, but the deal is subject to a required divesture of the abrasive paper backings and décor paper lines operations within Germany by Ahlstrom.

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