UPM-Kymmene Corporation has launched arbitration proceedings against Metsä Board Corporation
Metsä Board Corporation Stock Exchange Release 2 November 2012 at 9.55 am EETMetsä Board Corporation, a part of Metsä Group, divested on 3 May 2012 a 7.3 percentage point shareholding in Metsä Fibre Oy to Japan-based Itochu Corporation for EUR 138 million. At the same time Metsäliitto Cooperative, divested 17.6 percentage points of their holding in Metsä Fibre to Itochu. Metsä Board’s parent entity Metsäliitto had exercised on 24 April 2012 its call option pursuant to an amendment to the shareholders’ agreement to purchase the UPM-Kymmene Corporation’s 11 percentage holding in Metsä Fibre.