90-year-old company in South Africa worth R8 billion merging businesses with European giant

• Sappi and UPM-Kymmene Corporation's joint venture to be approved by the Competition Commission
• The merger aims to enhance operational performance, reduce climate impact, and maximise value for shareholders, while addressing sustainability requirements and reducing debt
• The joint venture is expected to boost Sappi's financials and assist with the group's struggles, with €100 million in operational synergies per annum anticipated