The European Commission has approved the combination of Munksjö AB and Ahlstrom’s Label and Processing business. The combination makes Munksjö Oyj a new global leader in high-quality specialty papers.

The approval is subject to the divestiture of Ahlstrom’s abrasive paper backings and pre-impregnated decor paper lines in Osnabrück, Germany to a third party. With this approval, Munksjö and Ahlstrom are initiating the final steps of the closing procedures of the first phase of the transaction, in which LP Europe, the European part of Ahlstrom’s Label and Processing business, is combined with Munksjö AB.

Further, the Helsinki Stock Exchange has approved the listing of Munksjö Oyj’s shares on the official list of the Helsinki Stock Exchange. The trading with Munksjö’s shares is expected to commence on or about June 7, 2013.

“The rationale for this transaction remains sound: Ahlstrom can now focus on businesses in which we see the most attractive value-add and growth opportunities. On the other hand, the Label and Processing business can be further developed as part of a leading specialty paper company,” says Jan Lång, president & CEO, Ahlstrom. “Ahlstrom will now steer its resources fully towards high performance fiber-based materials. We have made great progress with our product pipeline, and we will utilize our improved capabilities in product and technology development to introduce unique products that help our customers differentiate.”