Metsä-Botnia becomes a subsidiary of Metsäliitto Cooperative
(Thomson Reuters ONE) - Metsäliitto Group Stock exchange release 8 December 2009 at 3 p.m.Metsä-Botnia becomes a subsidiary of Metsäliitto CooperativeThe ownership arrangement concerning Oy Metsä-Botnia Ab announced byMetsäliitto Group at the end of October was concluded today on 8December in accordance with the earlier announcement. Following theconclusion of the arrangement, Metsäliitto Cooperative became themajority shareholder of Metsä-Botnia.Metsä-Botnia's Uruguay functions included in the agreement comprisethe majority holdings of the Fray Bentos pulp mill and ForestalOriental, a company specialising in eucalyptus cultivation.Metsä-Botnia and Metsäliitto Cooperative sold their holdings in theseoperations to UPM. The share sold by Metsä-Botnia is 82.1%, whilethat of Metsäliitto is 5.5%. The total debt-free enterprise value ofthe Uruguay operations was agreed at about EUR 1.6 billion.In connection with the arrangement, Metsäliitto Cooperative alsopurchases 24.7% of Metsä-Botnia's shares from UPM and 3.0% fromM-real. Now that the arrangement has been concluded, MetsäliittoCooperative owns about 53% of Metsä-Botnia, M-real about 30% and UPMabout 17%. As part of the arrangement, Metsä-Botnia sold 77% of itsshares in Pohjolan Voima Oy to UPM. The arrangement's net cash impactfor Metsäliitto Cooperative is approximately EUR 110 millionnegative. The total debt-free enterprise value of Metsä-Botniawithout its Uruguay operations and Pohjolan Voima Oy shares wasagreed at approximately EUR 1.9 billion.For further information:Esa Kaikkonen, General Counsel, Metsäliitto Group, tel. +358 10 4654749Anne-Mari Achrén, Group CCO, Metsäliitto Group, tel. +358 10 465 4541This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 08.12.2009 - 14:04 Uhr
Sprache: Deutsch
News-ID 9376
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