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Bergvik Skog - acquisition of the Swedish forestry business of Korsnäs and Stora Enso

May 12, 2005

Bergvik Skog AB, a new company created for the purpose of the acquisition, has agreed to acquire the Swedish forestry businesses of Korsnäs AB, the Swedish forestry company and Stora Enso Oy, the Finnish-based paper, packaging and forest products group, for SEK 18bn (EUR 2bn). Bergvik Skog was established by Stora Enso and Korsnäs, who will retain minority shareholdings of 43.3% and 5% respectively in the new company. The rest of the company's shares has been placed with institutional investors. Korsnäs is a wholly owned subsidiary of Industriforvaltnings AB Kinnevik, the Swedish management company. In connection with the acquisition, Bergvik Skog AB negotiated bank loans amounting to SEK 11,1bn.

Vinge acted for Bergvik Skog AB.
Stefan de Hevesy (responsible partner)
Fabian Ekeblad, Katja Cato, Henrik Wenckert (associates)

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