UPFRONT

M-real Sells Paper Business

METSA, FINLAND—M-real Corp., a subsidiary of MetsÃliitto Group, has signed an agreement to sell its graphic papers business to Sappi Limited for an enterprise value of 750 million euros. The deal consists of 500 million euros in cash and assumed debt, 200 million euros in a vendor loan note from Sappi to M-real and 50 million euros worth of newly issued shares in Sappi.