Stora Enso Increases Stake in Chinese Subsidiary Inpac Packaging
Dec. 29, 2015 - Stora Enso has entered into an equity transfer agreement to increase its ownership stake from 51% to 90% in its Chinese subsidiary Stora Enso Inpac Packaging Co. Ltd. The transaction is based on the terms of an option agreement dated October 2010. The cash consideration is approximately EUR 46 million.
The deal 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.
The transaction will have no impact on group's sales or operating profit.
Stora Enso Inpac offers fibre-based packaging solutions with design, production, sales and R&D services. The company has production units in Qian'an, Dongguan and Jiashan in China and sales offices in Beijing, Shanghai and Dongguan, and serves leading global and local brand owners.
Stora Enso produces chemical pulp, paper and board, corrugated packaging, and sawn wood products, including value-added products. To learn more, please visit: www.storaenso.com
SOURCE: Stora Enso