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Stora Enso Finalizes Divestment of Celbi Pulp Mill and Sale of Advance Agro Shares
Print
Helsinki, Finland, 08 August 2006 -- Stora Enso has finalized the divestment of Celbi Pulp Mill in Portugal to the Portuguese company Altri, as announced on 8 June 2006. The sales price of Celbi's equity is approximately EUR 430 million and the company has no debt. The Group will record a capital gain of approximately EUR 170 million on completion of the sale.

Celbi Pulp Mill, which was performing well, was divested as part of Stora Enso's Asset Performance Review (APR). The strategic aim of the divestment is to refocus the Group's short-fiber strategy on South America, where the first step was the start-up of Veracel Pulp Mill in Brazil.

Sale of Advance Agro shares

Stora Enso has received the full payment for the sale of its Advance Agro shares. The ownership of the shares has now been transferred to private investors based in Hong Kong. The transaction value was USD 80 (EUR 65) million.


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