Stora Enso Signs Agreement to Acquire Forest Assets in Bergvik Skog
Helsinki, Finland 30 November 2018 -- The shareholders of Bergvik Skog AB, a Swedish forest holding company, have signed a binding agreement regarding the previously announced intent to restructure its ownership. With this agreement, the parties aim to complete the transaction during the first half of 2019. Stora Enso's forest holdings in Sweden will increase to 1.4 million hectares, of which 1.15 million hectares is productive forest land. The total value of the transaction in Stora Enso's balance sheet is estimated to be approximately EUR 1.0 billion. Once all of the steps in the transaction have been finalised during the first half of 2019, it is expected that the financial impact for Stora Enso will be as follows: • Bergvik Skog is currently reported as an equity accounted investment. Upon closure of the deal, Stora Enso's Swedish forest assets will be placed in a fully owned subsidiary and then consolidated line by line in Stora Enso's results. **** Onlypulpandpaperjobs.com is for pulp and paper industry lovers! (11-30-18) **** Would you like to help create the future and build your own library at the same time? (9-12-18) **** Are you struggling to fill Maintenance Technician roles? (9-18-18)
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