Södra has agreed to sell its 25% ownership stake in Sunpine AB to VAROPreem, a transaction pursued alongside fellow shareholders Sveaskog AB and Lawter B.V. The deal follows an offer from a third party that triggered VAROPreem's right of first refusal to acquire all outstanding shares, according to Södra.
The forest-owner association has been a partner in Sunpine since 2008, focusing on developing renewable products based on tall oil. Södra determined that the company now requires different ownership and expertise for its next phase. The transaction is subject to necessary approvals, with the financial impact to be reported in the first half of the year. Södra's tall oil business will continue as part of its product portfolio.
Södra is the largest forest-owner association in Sweden, with more than 50,000 family forest owners as members.
