2008-04-30

Stora Enso finalises divestment of its merchant business Papyrus to Altor

Stora Enso has finalised the divestment of its merchant business Papyrus to Altor Fund II as announced on 6 March 2008. The total enterprise value of the transaction was approximately EUR 640 million, including approximately EUR 490 million in cash. There will be no material gain or loss recorded in the second quarter of 2008 in connection with the transaction. Based on the balance sheet at 31 March 2008, the debt/equity ratio will decrease from 0.51 to 0.44. The final financial effects of this transaction on Stora Enso will be disclosed on 24 July 2008, when Stora Enso's second quarter 2008 results are released.

Stora Enso divested Papyrus as part of its strategy of focusing the business portfolio of the Group. The divestment includes a long-term supply agreement with Papyrus, which will maintain Stora Enso's strong business relationship with Papyrus, while at the same time giving the Group independence in dealings with all of its important distribution channels.

Information about the company: Stora Enso Oyj