Metsa, Finland, 08 December 2009 -- The ownership arrangement concerning Oy Metsä-Botnia Ab announced by Metsäliitto Group at the end of October was concluded today, 08 December, in accordance with the earlier announcement. Following the conclusion of the arrangement, Metsäliitto Cooperative became the majority shareholder of Metsä-Botnia.

Metsä-Botnia's Uruguay functions included in the agreement comprise the majority holdings of the Fray Bentos pulp mill and Forestal Oriental, a company specializing in eucalyptus cultivation. Metsä-Botnia and Metsäliitto Cooperative sold their holdings in these operations to UPM. The share sold by Metsä-Botnia is 82.1%, while that of Metsäliitto is 5.5%. The total debt-free enterprise value of the Uruguay operations was agreed at about EUR 1.6 billion.

In connection with the arrangement, Metsäliitto Cooperative also purchases 24.7% of Metsä-Botnia's shares from UPM and 3.0% from M-real. Now that the arrangement has been concluded, Metsäliitto Cooperative owns about 53% of Metsä-Botnia, M-real about 30%, and UPM about 17%. As part of the arrangement, Metsä-Botnia sold 77% of its shares in Pohjolan Voima Oy to UPM. The arrangement's net cash effect for Metsäliitto Cooperative is approximately EUR 110 million negative. The total debt-free enterprise value of Metsä-Botnia without its Uruguay operations and Pohjolan Voima Oy shares was agreed at approximately EUR 1.9 billion.