July 5, 2012 / 10:31 AM / 7 years ago

SCA buy of Georgia-Pacific operations cleared in EU

BRUSSELS, July 5 (Reuters) - Swedish paper company SCA won EU regulatory approval on Thursday for its 1.32 billion euro ($1.65 billion) takeover of Georgia-Pacific’s European tissue operations, after pledging to sell some facilities and brands across Europe.

SCA unveiled the deal in November last year which will boost its market share in consumer tissues by 10 percent to 35 percent.

The European Commission said the companies will sell some business activities in Britain, Ireland, Sweden and the Netherlands, where the combined entity would have hurt competition.

“The commitments offered by the parties will ensure that consumers do not face higher prices as a result of this deal”, EU Competition Commissioner Joaquin Almunia said in a statement.

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