Metsa-Serla Oyj will buy a majority stake in
German rival Zanders Feinpapiere AG from International Paper Co.
Helsinki-based Metsa-Serla has agreed to pay
$73.8 million for what Executive Vice President and CFO Veli-Matti Myntinnen
said were holding companies belonging to International Paper.
These companies, which hold 72% of Zanders'
shares, will be purchased through Metsa-Serla's own German company, Metsa-Serla
Holding GmbH. Myntinnen said
The deal, which must be approved by the
European Union competition authorities.
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