Jul 20, 2009. /Lesprom Network/. Metsäliitto Group is to become the majority owner of Metsa-Botnia after concluding a share purchase agreement with UPM, Timber Trades Journal reported. The majority of Metsa-Botnia’s business is pulp production, with four pulp mills in Finland, but the group also comprises the 200,000 cubic meters sawn softwood capacity Svir Timber sawmill in Russia. The deal sees Metsäliitto buy a 30% shareholding in Metsa-Botnia from UPM, which increases Metsäliitto’s stake in the company from 23% to 53%. The arrangement, which needs approval by competition authorities, will have a Eur 100 million negative net effect on Metsäliitto’s cash flow, increasing net debt by around Eur 150 million. After completion, scheduled during the fourth quarter, Metsä-Botnia will become a subsidiary of Metsäliitto.