Norske Skog sells forest in Brazil
(Thomson Reuters ONE) -
Norske Skog sells forest areas in Brazil as part of the work to improve the
company's financial position
Norske Skog has entered into an agreement with CMNPAR Four Participacoes S.A., a
Brazilian company advised by Global Forest Partners LP, a US based, SEC
registered investment advisor, for the sale of around 21 500 hectares of forest
in Brazil, of which 10 500 hectares are productive forest.
- We are satisfied with the sale of the forest property in Brazil, which did not
generate cash and was not a core asset. This will improve our financial position
by reducing our net debt, says Sven Ombudstvedt, CEO and President of Norske
Skog.
The sales price for the shares is USD 63.5 million (approximately NOK 335
million), which will be paid within few days. The sale has resulted in a gain of
around NOK 43 million, which will be recognized in the first quarter of 2011 and
included in "Other gains and losses".
Oxenøen, 3 May 2011
Norske Skog
Corporate communication
For further information:
Media: Financial markets:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Jarle Langfjæran
Mob: (+47) 917 63 117 Mob: (+47) 909 78 434
Senior Advisor Investor Relations
Frode Tegnér
Mob: (+47) 906 19 102
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norske Skog via Thomson Reuters ONE
[HUG#1511587]
Unternehmensinformation / Kurzprofil:
Datum: 03.05.2011 - 08:32 Uhr
Sprache: Deutsch
News-ID 54158
Anzahl Zeichen: 2421
contact information:
Town:
Lysaker
Kategorie:
Business News
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