Sep 30, 2013. /Lesprom Network/. Metsä Board Corporation, part of Metsä Group, and the Group’s parent company Metsäliitto Cooperative have entered into an agreement regarding the ownership reorganization of Metsä Group Treasury Oy (formerly Metsä Group Financial Services Oy). Metsäliitto Cooperative will fully acquire the ownership of Metsä Group Treasury, which is the Group’s internal bank, as the company said in the press release received by Lesprom Network.

Metsä Group Treasury will remain as a separate corporation after the transaction and continues to provide treasury services for Metsä Board as before. Metsä Board divests its 51% holding in Metsä Group Treasury to Metsäliitto Cooperative for approximately Euro 5 million.

The transaction does not impact Metsä Board’s annual sales or operative result. The transaction improves Metsä Board’s equity ratio by approximately 5 percentage points, improves ROCE close to 1 percentage point and reduces gross debt by over Euro 300 million, all compared to 2Q 2013 actual numbers.

Metsä Board is Europe’s leading producer of fresh forest fibre cartonboards, coated white-top kraftliners, and a major paper supplier.