Nordic Business Report-July 21, 2006-Stora Enso Oyj to sell its Pankakoski Mill in Finland
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Finnish forest products company Stora Enso Oyj said on Friday (21 July) that it had signed a definitive agreement to sell its Pankakoski Mill in Finland to an international group of investors led by Dr Dermot Smurfit and including Lansdowne Capital Limited.
The debt-free sales price is EUR20m, the company said. Stora Enso's interest-bearing net liabilities will decrease by the same amount.
The divestment is part of Stora Enso's Asset Performance Review (APR), which aims to secure a competitive European production base.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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