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Bergvik Skog’s forests in Sweden to be sold

07.12.2017 − 

A good year before a management contract concluded 15 years ago expires, the currently twelve principal shareholders of Swedish Bergvik Skog signed a non-binding letter of intent on 27 November for reorganisation of the areas of forest in Sweden. The two Bergvik Skog shareholders Stora Enso and BillerudKorsnäs want to take over the bulk of the roughly 2.39m ha of forest land of the Bergvik Väst and Bergvik Öst subsidiaries during the course of the first half-year 2018.

This has largely reversed the amalgamation of Stora Enso’s and BillerudKorsnäs’ Swedish forests that took place when Bergvik Skog was founded in 2004. BillerudKorsnäs’ shares of the biological assets in Bergvik Skog accounted for roughly 17% at that time and were aggregated into Bergvik Öst. Stora Enso’s forests had a share of around 83% and formed Bergvik Väst at that time. In the framework of the transaction, long-term contracts for log deliveries and felling rights were also concluded between Bergvik Skog on the one and BillerudKorsnäs and Stora Enso on the other.

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