Stora Enso has signed an agreement to divest its shares in Advance Agro
STORA ENSO OYJ Stock Exchange Release 18 August 2005 at 15.00
Stora Enso has signed an agreement to divest its shares in
Advance Agro
Stora Enso has signed an agreement to divest its 18.8% ownership
of Advance Agro Public Company Limited of Thailand to private
investors based in Hong Kong for USD 80 (EUR 65) million. The
transaction is structured with instalment payments, the last of
which is expected to be received not later than the third
quarter of 2006.
Enso Oyj acquired the minority shareholding in Advance Agro in
1998 in order to develop business in Thailand. Since then the
emphasis in Stora Ensos fibre strategy has shifted to South
America and China, which the company has identified as two of
the three main emerging strategy areas, the third being Russia.
Singapore-based Imprimis (Singapore) Pte Ltd was Stora Ensos
advisor in the placement of the shares.
For further information, please contact:
Esko Mäkeläinen, CFO, tel. +44 20 7016 3115
Kari Vainio, Executive Vice President, Corporate Communications,
tel. +44 7799 348 197
Keith B Russell, Senior Vice President, Investor Relations, tel.
+44 20 7016 3146
Ulla Paajanen-Sainio, Vice President, Investor Relations and
Financial Communications, tel. +358 2046 21242
www.storaenso.com
www.storaenso.com/investors
STORA ENSO OYJ
p.p. Jukka Marttila Veli-Matti Tahvanainen