Metsäliitto Group to increase its ownership in Metsä-Botnia

Metsäliitto Group Stock Exhange Release 30 June 2011 at 9.15


Oy Metsä-Botnia Ab, a part of Metsäliitto Group, redeems its own shares from UPM-Kymmene Corporation (UPM) on the basis of a shareholders' agreement the parties made in 2009. The number of redeemed shares corresponds to 6.7% of the whole share capital of the company and the redemption price is around EUR 140 million. The transaction is closed on 30 June 2011.

After the redemption Metsäliitto Osuuskunta will own around 57% of the company, M-real Oyj 32%, and UPM 11%. The arrangement will not have a significant impact on the consolidated key figures of Metsäliitto Group.

In the same connection, UPM is granting Metsäliitto Group a call option to the rest of the Metsä-Botnia shares it owns. The call option is valid for two years and the agreed price of the remaining shares if the call option is used is around EUR 150 million.

"Metsäliitto Group is increasing its share of ownership in Metsä-Botnia as intended. Pulp is one of the business areas on which we focus. Long-fibre northern softwood pulp is an important raw material for many high-quality forest industry products. In the near future, we will examine our possibilities to further increase our share of ownership through the call option," says Kari Jordan, President and CEO of Metsäliitto Group.


Further information:
Esa Kaikkonen, Group General Counsel, Metsäliitto Group, tel. +358 50 598 8746