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31.12.2015 13:02:17
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Stora Enso To Divest Its Entire Shareholding In Arapoti Magazine Paper Mill
(RTTNews) - Stora Enso (SEOAY.PK) announced it has signed an agreement to divest its entire 80% shareholding in the Arapoti magazine paper mill in Parana, Brazil, to Papeles Bio Bio for approximately 21 million euros. The transaction will reduce Stora Enso's net debt by approximately 18 million euros, and will decrease the company's sales by approximately 100 million euros.
Stora Enso said the loss on disposal amounts to approximately 27 million euros, and will be recorded as a non-recurring item in the company's fourth quarter 2015 results.
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