Deal announcement: UPM shareholders approve partial demerger and listing of WISA Group
Type of deal: Partial demerger and listing of UPM’s Plywood business on Nasdaq Helsinki
Sector: Forest and wood products manufacturing industry
UPM-Kymmene Oyj’s Extraordinary General Meeting has approved the partial demerger of UPM’s Plywood business area into a new independent listed company, WISA Group Plc. The demerger is expected to be completed on 31 October 2026, following which trading in the shares of WISA Group is currently expected to commence on Nasdaq Helsinki on or about 2 November 2026, or as soon as possible thereafter.
The shareholder approval of the demerger represents a significant milestone in the separation of the WISA business into a standalone listed company. WISA Group will comprise UPM’s Plywood business, which produces high-quality plywood products under the WISA brand for a broad range of industrial applications and customers globally.
PwC has supported UPM throughout the demerger and listing process in several areas, our team provided: carve-out strategy and programme management support, IT carve-out and IT PMO support, financial reporting, capital markets and tax structuring advisory, and listing readiness support.
We would like to thank UPM and the WISA team for their excellent collaboration and trust throughout this significant transformation, and congratulate all parties involved on the successful approval of the demerger.
Deal announcement date: 31 August 2026
PwC's role: Carve-out strategy, program planning and PMO support, Listing Due Diligence, Capital Markets Advice, IFRS financial reporting, Internal Control Advice, Tax Advisory, and overall IT Carve-out support
PwC's teams related to the project: Strategy&, CMAAS, Consulting, Tax, Transaction Services
Copyright: UPM
Ota yhteyttä
Marko Koski
Sari Elonheimo
Partner, Capital Markets and Accounting Advisory Services, PwC Finland
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Samuli Lehto
Markku Hakkarainen
Jarkko Sihvonen
Ota yhteyttä
Anne Launis
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Partner, Sustainability Advisory Leader, PwC Finland
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