Home Asia Pacific Asia Pacific: Stora Enso buys more stake in Chinese subsidiary

Asia Pacific: Stora Enso buys more stake in Chinese subsidiary

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Stora Enso will increase its ownership stake in its Chinese subsidiary Stora Enso Inpac Packaging Co. Ltd from 51% to 90%.

The transaction is based on the terms of an option agreement dated October 2010.

The cash consideration is approximately €46 million (US$49.8 million).

The transaction is subject to regulatory approval by Chinese authorities and is expected to be finalized during the first quarter of 2016.

The transaction gives Stora Enso a better opportunity to develop the Inpac Packaging business further and to execute the strategy in the region.