The merger of UPM-Kymmene and Champion2/17/2000
The combined entreprise value is approximately EUR 20.5 billion and represents the industry's first substantial cross-Atlantic merger.
The combined company will be called Champion International and will be symbolized by UPM-Kymmene's logo, the Griffin. The company headquarters will be located in Helsinki, Finland. Mr Juha Niemelä, president and chief executive officer of UPM-Kymmene, will be the chief executive officer of the combined company.
The merger is conditioned upon, among other things, the approvals of the shareholders of both companies and regulatory approvals in various jurisdictions. The companies anticipate that the merger can be completed during the first half of the year 2000.