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Metsä-Botnia becomes a subsidiary of Metsäliitto Cooperative

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The ownership arrangement concerning Oy Metsä-Botnia Ab announced by
Metsäliitto Group at the end of October was concluded today on 8 December in
accordance with the earlier announcement. Following the conclusion of the
arrangement, Metsäliitto Cooperative became the majority shareholder of
Metsä-Botnia. 

Metsä-Botnia's Uruguay functions included in the agreement comprise the
majority holdings of the Fray Bentos pulp mill and Forestal Oriental, a company
specialising in eucalyptus cultivation. Metsä-Botnia and Metsäliitto
Cooperative sold their holdings in these operations to UPM. The share sold by
Metsä-Botnia is 82.1%, while that of Metsäliitto is 5.5%. The total debt-free
enterprise value of the Uruguay operations was agreed at about EUR 1.6 billion. 

In connection with the arrangement, Metsäliitto Cooperative also purchases
24.7% of Metsä-Botnia's shares from UPM and 3.0% from M-real. Now that the
arrangement has been concluded, Metsäliitto Cooperative owns about 53% of
Metsä-Botnia, M-real about 30% and UPM about 17%. As part of the arrangement,
Metsä-Botnia sold 77% of its shares in Pohjolan Voima Oy to UPM. The
arrangement's net cash impact for Metsäliitto Cooperative is approximately EUR
110 million negative. The total debt-free enterprise value of Metsä-Botnia
without its Uruguay operations and Pohjolan Voima Oy shares was agreed at
approximately EUR 1.9 billion. 
For further information:
Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 465 4749
Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541





                                            

                

            

        

    

    



    

        
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