Stora Enso announces intent to acquire forest assets in conjunction with planned structural changes in Bergvik Skog AB
Shareholders representing 98% of the owners in Bergvik Skog AB, a Swedish forest holding company, have agreed to initiate discussions, based on a non-binding letter of intent, aiming at structural changes in Bergvik Skog Group. These shareholders are Stora Enso, Länsförsäkringar, FAM, BillerudKorsnäs, Kåpan Pension, Tredje AP-fonden, Persson Invest, Karl Hedin AB and Tham Invest. “The wood supply agreement with Bergvik Skog, established 15 years ago, expires next year. Together with our partners, we have had a successful journey which now comes to an end. The planned transaction is a natural next step for us, as we strongly believe in the bioeconomy and want to secure our competitive raw material supply in the long term. We will seek support from the remaining 2% outstanding shareholders as well as all other relevant stakeholders”, says Karl-Henrik Sundström, CEO of Stora Enso. Bergvik Skog’s Swedish forest assets are owned by its subsidiaries Bergvik Väst AB and Bergvik Öst AB, representing approximately 83% and 17% respectively. Click Read More below for additional information.