May 22, 2014. /Lesprom Network/. Stora Enso has acquired 405 shares in Bergvik Skog, a Swedish forest company, from SPP Livförsäkring for SEK 2.2 million per share, or in total SEK 891 million (Euro 99 million). The transaction increases Stora Enso’s shareholding from 43.26% to 49% in the company. Stora Enso will continue to account for Bergvik Skog as an equity accounted investment following the transaction, as the company said in the press release received by Lesprom Network.

Bergvik Skog is a strategic asset for Stora Enso. Bergvik Skog’s forests are well located close to Stora Enso’s Swedish mills. This transaction underlines Stora Enso’s long-term engagement in Bergvik Skog and the importance to Stora Enso of securing stable access to wood raw material near the mills.

Bergvik Skog owns approximately 2.3 million hectares of land in Sweden and about 0.1 million hectares in Latvia and is one of Europe’s largest private-sector forest owners.

Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry.