Stora Enso sells forest holdings in Sweden and strengthens its financial position
News General news
The Swedish paper and packaging manufacturer Stora Enso is divesting 12.4% of its forest holdings in Sweden. The Group intends to use the proceeds to reduce its debt and strengthen its financial position.
According to a press release, Stora Enso is selling a total of around 175,000 hectares of forest land for a sum of €900 million, or skr 9.8 billion. The transaction will be made to a newly established company. The Soya Group will hold 40.6% of the shares in this company. A consortium led by MEAG, which acts as capital manager for the German Munich Re, will hold 44.4% of the shares. The remaining 15% will remain with Stora Enso. The proceeds are expected to reduce the Group's net debt by €790 million. Stora had already announced corresponding plans in the fall of 2024.
Part of the sale is a 15-year wood supply contract for the Swedish group with the option of extending it for a further 15 years. According to the company, this is intended to ensure security of supply for the Swedish paper and board mills.
