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Stora Enso Selling Warehouses and Office Properties in Sweden and Denmark
Comment Print
Helsinki, Finland, 19 June 2007 -- Stora Enso's subsidiary paper merchant Papyrus has sold warehouses and office properties in Sweden and Denmark to the Swedish listed property company Kungsleden.

The total value of the cash deal, which will have a positive impact on Stora Enso's cash flow in the second and third quarter of 2007, is SEK 525 (EUR 56) million. A capital gain of approximately SEK 270 (EUR 29) million will be recorded as a non-recurring item in Stora Enso's merchant segment's second quarter results.

The objective of this divestment of real estate is to release capital in order to strengthen the business and improve profitability.

The divested real estate is located in Stockholm, Norrköping, Holsbybrunn, and Mölndal in Sweden and Copenhagen in Denmark.
 

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