The shareholders of Bergvik Skog AB, a Swedish forest holding company, have finalised the previously announced restructuring of its ownership. Stora Enso’s forest holdings in Sweden will increase to 1.4 million hectares, of which 1.15 million hectares is productive forest land. Prior to the transaction, Stora Enso’s indirect share of Bergvik Skog’s productive forest land was 936 thousand hectares. “I am very pleased that we have successfully finalised the restructuring of Bergvik Skog with the other shareholders. This transaction is a natural next step for us, as we strongly believe in the bioeconomy and want to secure our competitive raw material supply for the long term. The direct ownership gives us better opportunities to further develop sustainable forest management, thus strengthening our competitiveness,” says Stora Enso’s CEO Karl-Henrik Sundström. As part of the transaction, Stora Enso acquires Bergvik Skog Plantor AB nursery and three wind turbine projects. This will further strengthen the Group’s comprehensive offering to forest owners in Sweden and is in line with its commitment to sustainable forestry. Click Read More below for additional information.
Holmen has today signed an agreement to sell forest properties in north-west Jämtland, Sweden, for SEK 100 million. The sale is expected to be completed in January 2018. The Group’s earnings will be positively impacted by just over SEK 70 million in the first quarter of 2018 since the sale price exceeds the carrying amount according to IAS 41.
With holdings of over 1 million hectares of productive forest land, Holmen is one of Sweden’s largest forest owners.
“This forest land is located far from our production facilities and has significant other values than forestry. We intend to reinvest the sales proceeds in forest located closer to our own production facilities,” says Henrik Sjölund, President and CEO of Holmen.
The buyer is Persson Invest, a Group with a turnover of 5.5 billion SEK that already owns 100,000 hectares of forest land in Jämtland County.
“We are pleased to expand our forest resources in the county. It is rare that real estate of this size comes into the market,” says Henrik Mårtensson, Director of Forestry, Persson Invest.
The properties comprise 4 400 hectares of productive forest land, 2 000 hectares of which are actively managed.