EU Temporarily Suspends Review of UPM-Sappi Joint Venture

As a spokesperson for the European Commission confirmed to EUWID, a so-called “stop-the-clock” order was issued on May 29, 2026, retroactive to May 26, 2026. This means that the original deadline for a final decision by the EU competition authority, which had previously been set for September 8, 2026, is pushed back accordingly. As soon as the EU receives the information and documents necessary for a thorough examination of the planned merger, the proceedings will resume with new deadlines.

In response to a request from EUWID, UPM stated that the suspension (“stop-the-clock”) is a standard procedural mechanism under EU merger control regulations, formally triggered by a request for information sent to the parties. The suspension was agreed upon between the parties and the competent authority and does not constitute a setback—the investigation is actively continuing and the process is proceeding as expected, UPM further commented. Meanwhile, details regarding the missing information and documents remain unknown.

On April 28, 2026, the European Commission’s investigation entered its second phase. On May 28, 2026, UPM and Sappi signed the agreement regarding the planned joint venture as scheduled. Until recently, the plan was for the merger to take effect before the end of this year.