Stora Enso Oyj Stock Exchange Release 19 June 2007 at 12.30 GMT
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.
For further information, please contact:
Mats Nordlander, President of Papyrus, tel. +46 703 370890
Kari Vainio, Executive Vice President, Corporate Communications, tel. +44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, tel. +44 7775 788 659
Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications,
tel. +358 2046 21242
Papyrus is a wholly-owned paper merchanting subsidiary of Stora Enso with net sales of EUR 1907 million in 2006. Papyrus holds a leading market position in continental Europe and is Europe's second-largest paper merchant. It supplies 1.8 million tonnes of paper annually. Papyrus currently has a presence in 20 European countries and employs 3150 people.
Papyrus is represented locally both under its own brand name and as Schneidersöhne, Papeteries de France, Sihl+Eika, Scaldia, Classen-Papier and Giger Papier. Although Papyrus operates under different names, it has a coherent one-company commitment to offering quality products, high service levels and superior logistical solutions.
STORA ENSO OYJ
p.p. Jussi Siitonen Anne Asmundi
