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BillerudKorsnäs completed the acquisition of Bergvik Skog Öst

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BillerudKorsnäs completed the acquisition of Bergvik Skog Öst

June 20, 2019 - 05:42
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As previously communicated, BillerudKorsnäs has entered into an agreement with all shareholders of Bergvik Skog AB concerning a split of Bergvik Skog AB’s forest assets.

The agreement implies that BillerudKorsnäs acquires Bergvik Skog Öst AB, which comprises approximately 350,000 hectares of forest land in Sweden, and in connection to that divests 5% of the shares in Bergvik Skog Väst AB to Stora Enso.

All conditions for the transactions have now been fulfilled and the transactions have been completed 31 May.

“The repurchase of Bergvik Skog Öst is part of our strategy to ensure a long-term competitive and stable wood supply. Going forward our intent is to find suitable investors to this forest land and thereby ensure long-term wood agreements, rather than tying our capital into forest assets. The process to find suitable investors is ongoing,” says Petra Einarsson, CEO and President at BillerudKorsnäs.