Stora Enso has sold its shareholding in Finnlines Plc
Nov 30, 2006. Stora Enso Oyj has sold all its 2 209 340 shares in Finnlines Plc for Euro 35 million.
Nov 30, 2006. /Lesprom Network/. Stora Enso Oyj has sold all its 2 209 340 shares in Finnlines Plc for Euro 35 million. The shares represent 5.43% of the total number of outstanding shares in Finnlines.
Stora Enso will record a capital gain of Euro 33 million as a non-recurring financial item in its fourth quarter 2006 results.
The shareholding in Finnlines Plc has been a non-core financial investment. The sale is consistent with Stora Enso's objective of concentrating its capital resources on its core businesses.