A letter of intent regarding Metsä-Botnia's new ownership structure
In the letter, Metsäliitto Cooperative will become the majorityshareholder of Metsä-Botnia Metsäliitto Group will focus even more clearly on selected corefunctions and strengthen its operations in them by signing a letterof intent regarding the divestment of its Uruguay-based function toUPM-Kymmene Oyj. In the same connection, it was agreed that UPM willreduce its ownership in Metsä-Botnia to approximately 17%, with themajority transferring to Metsäliitto. The Uruguay functions transaction included in the letter of intentinclude the majority shares of the Fray Bentos pulp mill and