Merilampi advised Versowood in the acquisition of UPM’s Korkeakoski sawmill and in deepening its cooperation with UPM

Merilampi assisted Versowood Oy in acquiring the business operations of UPM-Kymmene Corporation’s Korkeakoski sawmill and in entering into a significant cooperation agreement with UPM regarding by-products and pulpwood from the sawmills. As part of the transaction, UPM will become a minority shareholder in Versowood.

Versowood is Finland’s largest private wood processor and, through this acquisition, will become the largest sawmill operator in Finland and one of the ten largest in Europe. The combined turnover of Versowood and the Korkeakoski sawmill will exceed EUR 700 million. The company produces nearly 2 million cubic meters of sawn timber and employs approximately 1,000 people. The final implementation of the agreement is subject to regulatory approvals, including approval from the Finnish Competition and Consumer Authority, which are expected by the end of 2025.

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