Stora Enso has completed the divestment announced September 30, 2014 of its Corenso business operations to the Finnish packaging materials company Powerflute Oyj.
The enterprise value of the transaction is approximately EUR 90 million, and the all cash consideration approximately EUR 102 million.
The transaction is estimated to result in a capital gain of approximately EUR 12 million that will be reported as a positive non-recurring item in Stora Enso’s fourth quarter 2014 operating profit.
Corenso was part of the Stora Enso Renewable Packaging Division.
