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Stora Enso Oyj (STERV.HE)

STERV.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stora Refinances Its Revolving Credit Facility
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Stora Enso Oyj ::STORA ENSO REFINANCES ITS REVOLVING CREDIT FACILITY.SAYS ‍HAS SIGNED A NEW EUR 600 MILLION REVOLVING CREDIT FACILITY AGREEMENT WITH A SYNDICATE OF 13 BANKS TO REFINANCE ITS EXISTING EUR 700 MILLION FACILITY​.SAYS ‍NEW FACILITY MATURES IN JANUARY 2023 AND WILL BE USED AS A BACKUP FOR GENERAL CORPORATE PURPOSES​.  Full Article

Stora Enso intends to buy Bergvik Skog forest assets
Monday, 27 Nov 2017 

Nov 27 (Reuters) - STORA ENSO OYJ ::STORA ENSO ANNOUNCES INTENT TO ACQUIRE FOREST ASSETS IN CONJUNCTION WITH PLANNED STRUCTURAL CHANGES IN BERGVIK SKOG AB.‍TRANSACTION WOULD RESULT IN A CASH OUT EFFECT OF EUR 250-300 MILLION​.‍STORA ENSO'S CURRENT DEBT WOULD INCREASE BY APPROXIMATELY EUR 800 MILLION​.‍NET DEBT TO EBITDA RATIO WOULD INCREASE BY APPROXIMATELY 0.6.​.‍FINAL AGREEMENTS ARE CURRENTLY UNDER NEGOTIATIONS BETWEEN PARTIES​.‍AIM IS TO INITIATE TRANSACTIONS DURING FIRST HALF OF 2018​.‍CAPITAL EMPLOYED WOULD INCREASE BY ABOUT EUR 1 BILLION, RESULTING IN A DECREASE IN ROCE OF ABOUT 1%-POINT​.  Full Article

Stora Enso divests sheeting centre business in Germany
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Stora Enso Oyj :Says to divest its sheeting centre business in Baienfurt, Germany, to Finnish converting firm Pyroll.Says ‍transaction is expected to be completed during Q1 of 2018​.Says divestment ‍not expected to have any significant effect on net debt or financials.Says sheeting centre employs approximately 60 people and had sales of 15 million euros ($17.61 million) in 2016.  Full Article

Stora Enso says in 2018, estimated capital expenditure to be EUR 550–600 mln
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Stora Enso Oyj - :Stora Enso introduces change in operational ebitda definition, higher strategic target for wood products division and capex for 2018.In 2018, estimated capital expenditure will be EUR 550–600 million, including eur 100 million for biological assets.Forecasted annual depreciation is EUR 490–510 million and operational decrease in value of biological assets EUR 50–70 million in 2018.  Full Article

Stora Enso to book a loss of $9 mln from Puumerkki divestment
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Stora Enso Oyj :says to divest Puumerkki, a wholesaler of wooden building materials, to Mimir Invest AB.says will book a loss of 8 million euros ($9.3 million) in its operational EBIT in the fourth quarter of 2017.Puumerkki's sales in 2016 were approximately EUR 160 million, and it has approximately 170 employees.  Full Article

Stora Enso to invest $110 in renewable materials
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Stora Enso Oyj :Says will invest 94 million euros ($110.58 million) to grow in renewable materials and to increase competitiveness in consumer board and biomaterials.Says 52 million euros will be invested to increase dissolving pulp production capacity at Enocell mill and 42 million euros to enhance availability of chemi-thermomechanical pulp at Imatra mills​.  Full Article

Stora Enso completes bond buyback offer
Thursday, 8 Jun 2017 

June 8 (Reuters) - Stora Enso Oyj :says following bond and tender release issued on 31 May 2017, Stora Enso has successfully repurchased notes with a nominal value of EUR 83 million from the 2018 bond and of EUR 216 million from the 2019 bond.says transaction for the 2018 bond is priced at a yield of -0.25 percent and the 2019 bond is priced at a yield of -0.15 percent.bookrunners for the transaction were Citibank, SEB, and Barclays.  Full Article

Stora Enso completes paper mill divestment
Thursday, 1 Sep 2016 

Stora Enso Oyj : says has completed the divestment of its Kabel coated mechanical paper mill in Germany, to Kabel Premium Pulp & Paper GmbH . total cash consideration for divestment is approximately EUR 25 million, subject to final closing adjustments . The loss on disposal amounts in total EUR 15 million, effect on operating profit approximately EUR 5 millionFurther company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

Stora Enso invests in packaging business in Sweden
Monday, 29 Aug 2016 

Stora Enso Oyj : Says is investing a total of 6.6 million euros ($7.38 million) in corrugated packaging business in Sweden . Says investment encompasses a new corrugated cutting machine in the Jonkoping factory, and a smaller upgrade of the cutting system in the Skene factory . Says investment will lead to increased production efficiency which in turn will result in staff redundancies .Says negotiations with the unions about the redundancies will commence shortly.  Full Article

Stora Enso to review troubled paper business
Thursday, 21 Jul 2016 

Stora Enso Oyj : Says project has been initiated to "plan for the most efficient way to manage paper business" . Says is reviewing "how to create the best conditions for the Paper division to compete under increasing cost pressures and declining market demand" . Asked whether the review could lead to changes in the unit's ownership, CEO Karl-Henrik Sundstrom told a news conference: "This project is basically to make sure what we can do within our own ownership structure, so it is an internal project" . Sundstrom also said there will be no decision taken on Beihai pulp mill investment in the next coming two years Further company coverage: [STERV.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244;)).  Full Article

Finns left out in the cold as Scandinavians press ahead with power deal

OSLO, Nov 28 Denmark, Norway and Sweden are pressing ahead with plans for a new system to balance electricity supply and demand in the region, leaving out Finland after negotiations with their neighbour broke down.