Stora Enso To Sell 60% Stake In Dawang Paper Mill In China [Reuters]
STORA ENSO OYJ ADR R SH (SEOAY)
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Source: Reuters
Stora Enso Oyj (SEOAY.PQ) Key Developments | Reuters.com July 25 (Reuters) - Stora Enso Oyj ::STORA ENSO TO SELL ITS STAKE IN THE DAWANG PAPER MILL TO ITS JOINT VENTURE PARTNER HUATAI.STORA ENSO HAS SIGNED AN AGREEMENT TO DIVEST ITS 60% EQUITY STAKE IN DAWANG MILL IN CHINA, TO ITS JOINT VENTURE PARTNER, SHANDONG HUATAI PAPER.TRANSACTION IS EXPECTED TO BE COMPLETED BY END OF 2019 AND IT WILL NOT HAVE ANY MATERIAL IMPACT ON STORA ENSO'S OPERATIONAL EBIT.FOLLOWING TRANSACTION, STORA ENSO'S NET DEBT WILL DECREASE BY APPROXIMATELY EUR 22 MILLION AND ANNUAL SALES BY APPROXIMATELY EUR 60 MILLION.AFTER THIS TRANSACTION, STORA ENSO WILL NOT HAVE ANY PAPER PRODUCTION IN CHINA. Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizati
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