Press Release: Mergers: Commission clears acquisition of Swedish paper producer Billerud by Swedish investment company Kinnevik, subject to conditions

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Swedish pulp- and paper-based packaging products manufacturer Billerud by the Swedish investment company Kinnevik, owner of the rival paper company Korsnäs, also of Sweden.

The clearance is conditional upon the divestment of Korsnäs' white sack kraft paper and white machine finished/unglazed ("MF/UG") kraft paper business. The Commission had concerns that the transaction would have reduced effective competition in these markets. The commitments offered by the parties address these concerns.