Stora Enso increases its shareholding in Bergvik Skog
Stora Enso has acquired 405 shares in Bergvik Skog, a Swedish forest company, from SPP Livförsäkring for SEK 2.2 million per share, or in total SEK 891 million (EUR 99 million). The transaction increases Stora Enso’s shareholding from 43.26% to 49% in the company. Stora Enso will continue to account for Bergvik Skog as an equity accounted investment following the transaction.
Bergvik Skog is a strategic asset for Stora Enso. Bergvik Skog’s forests are well located close to Stora Enso’s Swedish mills. This transaction underlines Stora Enso’s long term engagement in Bergvik Skog and the importance for Stora Enso to secure stable access to wood raw material near the mills.
Stora Enso was advised by Mannheimer Swartling in the transaction. The firm’s team included Martin Ericsson, Johan Carle, Nina Svensson and Albert Roos.