Divestment in Pakistan completed
Stora Enso: Divestment of Bulleh Shah Packaging

19.09.2017 Stora Enso has completed the divestment announced on 26 July 2017 of its 35% holding in the equity accounted investment Bulleh Shah Packaging (Private) Ltd. in Pakistan to the main owner Packages Ltd.

Stora Enso has completed the divestment of Bulleh Shah Packaging in Pakistan
© Foto: @Erwin Wodicka - Fotolia
Stora Enso has completed the divestment of Bulleh Shah Packaging in Pakistan
The total cash consideration for the divestment of the shares is EUR 6 million. The loss on disposal amounts in total to approximately EUR 19 million and it will be recorded as an item affecting comparability in Stora Enso’s third quarter 2017 results.

With this transaction, Packages Ltd. achieves full ownership of Bulleh Shah Packaging.

Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Its aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. Stora Enso employs some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY).

storaenso.com
stats