Stora Enso increases its shareholding in Bergvik Skog
May 22 2014 - 9:03AM
Stora Enso has acquired 405 shares in Bergvik Skog, a Swedish
forest company, from SPP Livforsakring for SEK 2.2 million per
share, or in total SEK 891 million (EUR 99 million). The
transaction increases Stora Enso's shareholding from 43.26% to 49%
in the company. Stora Enso will continue to account for Bergvik
Skog as an equity accounted investment following the transaction.
Bergvik Skog is a strategic asset for Stora Enso. Bergvik Skog's
forests are well located close to Stora Enso's Swedish mills. This
transaction underlines Stora Enso's long-term engagement in Bergvik
Skog and the importance to Stora Enso of securing stable access to
wood raw material near the mills.
About Bergvik Skog Bergvik Skog owns
approximately 2.3 million hectares of land in Sweden and about 0.1
million hectares in Latvia and is one of Europe's largest
private-sector forest owners. Bergvik Skog's forests are certified.
In addition to wood fibre sales the company leases out land for
hunting and fishing, etc. Bergvik Skog annually produces about 60
million seedlings in its three nurseries. The company supports the
transition to increased utilisation of renewable energy by
developing wind farms and by leasing out land for wind turbines.
Bergvik Skog AB (publ) was founded in 2004 to acquire Stora Enso's
and Korsnas' forestland in Sweden. For further information,
please contact: Ulla Paajanen-Sainio, Head of Investor
Relations, tel. +358 40 763 8767 www.storaenso.com
www.storaenso.com/investors Stora Enso is the global rethinker of
the paper, biomaterials, wood products and packaging industry. We
always rethink the old and expand to the new to offer our customers
innovative solutions based on renewable materials. Stora Enso
employs some 29 000 people worldwide, and our sales in 2013
amounted to EUR 10.6 billion. Stora Enso shares are listed on
NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In
addition, the shares are traded in the USA as ADRs (SEOAY) in the
International OTCQX over-the-counter market. STORA ENSO OYJ
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