UPM Sells 11% of Metsä Fibre Shares to Metsäliitto
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UPM, Finland, reports that it will complete the previously announced sale and purchase of shares in Metsä Fibre Oy (formerly Oy Metsä-Botnia Ab). According to the sale and purchase arrangement, UPM will sell its 11% share in Metsä Fibre Oy to Metsäliitto Cooperative for EUR 150 million. The sale and purchase will be completed on April 24.
UPM is made up of three Business Groups: Energy and Pulp, Paper, and Engineered Materials. UPM's 2011 sales exceed EUR 10 billion. The company has production plants in 16 countries and employs some 24,000 people worldwide.
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