Hannes Snellman Advising UPM-Kymmene Corporation on Separation of UPM Plywood Business Area and Partial Demerger of UPM-Kymmene Corporation

Hannes Snellman has been advising UPM-Kymmene Corporation (UPM) on all legal aspects of the strategic review and separation of the UPM Plywood business area from the UPM Group (announced September 2025), including the carve-out, partial demerger, listing and related transactions and commercial arrangements.

UPM’s Extraordinary General Meeting has today resolved on the partial demerger of UPM, whereby all assets and liabilities related to the UPM Plywood business area will transfer to WISA Group Plc, which will be established upon the completion of the demerger, expected on 31 October 2026. Upon completion of the demerger, the shares of WISA Group Plc will commence trading on the regulated market of Nasdaq Helsinki.

WISA Group will be one of the leading European plywood producers with a strong market position across key end-uses. WISA Group offers high-quality plywood and veneer products mainly for panel trading and construction, vehicle flooring, LNG shipbuilding, parquet manufacturing, and other industrial applications.

Our team was led by partners Tuire Kuronen and Antti Kuha, managing associate Agda Vähä-Piikkiö, senior associate Aki Salmela, and associate Wilma Montonen (M&A, Capital Markets, Corporate).

The wider cross-disciplinary team comprised:

• M&A: Karoliina Lempiäinen, Anni Astikainen, Niko Ojala, Elias Vanninen, and Vivi Jaatinen
• Capital Markets: Annemari Rosi, Maiju Nurminen, Semmi Seljavaara, Melisa Göllü, and Anni Ollus
• Competition, Regulatory: Mikko Huimala and Niilo Melkas
• Finance: Markus Bremer and Kristian Suominen
• Tax: Heikki Vesikansa, Harri Vehviläinen, Jenni Parviainen, and Antti Louhivuori
• Tech, Data: Jesper Nevalainen, Hilma Mäkitalo-Saarinen, and Axel Hård af Segerstad
• Employment: Sanna Honkinen, Jussi Herrainsilta, and Anna Nyberg
• Environment: Anniina Kunnaton and Minna Juhola
• Real Estate: Sofia Tyykiluoto
• Energy: Linda Härkönen