EU Clears SCA's $1.7B Georgia-Pacific Buy, With Conditions

Law360, New York (July 5, 2012, 4:08 PM EDT) -- Europe's competition authority signed off on a €1.32 billion ($1.7 billion) deal for Swedish paper company Svenska Cellulosa Aktiebolaget to acquire a Georgia-Pacific LLC unit, but only after the companies agreed to substantial divestitures.

First announced in November, SCA's acquisition of Georgia-Pacific's European tissue business had raised red flags with the European Commission, which feared that the deal would lead to reduced competition for toilet paper, tissues and paper towels in the U.K., Ireland, Sweden and the Netherlands.

Under the deal approved Thursday, the newly combined...
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