Stora Enso Sells Stake in Sampo Oyj
March 15, 2006 - Stora Enso said that it has sold all its 8 746 620 shares in Sampo Oyj for approximately EUR 155 million. The shares represent 1.54% of the total number of outstanding shares in Sampo Oyj.
Stora Enso will record a capital gain of EUR 130.0 million as a non-recurring financial item in its first quarter 2006 results.
The shareholding in Sampo Oyj has been a non-core financial investment. The sale is consistent with Stora Enso's objective of concentrating its capital resources on its core businesses.
Sampo is Finland's leading bank specializing in long-term savings.
SOURCE: Stora Enso Oyj