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Stora Enso finalises its divestment of forestlands in Finland and the USA.
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PR Newswire
- Article date:
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December 4, 2002
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Copyright informationCOPYRIGHT 2002 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Helsinki, Finland -- Helsinki, Finland - Finland: Further to Stora Enso's announcement in May 2002 regarding its intention to divest its Finnish forestlands, Stora Enso has sold most of the shares in its Tornator forest asset companies to a new company established by Finnish institutional investors. The aggregate market value of the forest assets is EUR 502 million. Stora Enso owns 41 of the shares in the new company following the sale. The sale resulted in a realised capital gain of EUR 24 million, which will be entered as a non-recurring item in the fourth quarter of 2002.
As part of its forest restructuring programme, Stora Enso transferred its forestland holdings of ...
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