Stora Enso to Acquire Majority Interest in Intercell of Poland
Press release from the issuing company
HELSINKI, Finland, Oct. 29 -- Stora Enso today announced that Stora Enso will acquire 66% of the shares in the Polish packaging producer Intercell S.A. from private shareholders and the International Finance Corporation. The acquisition is expected to be closed by the end of 2004, subject to approval by regulatory authorities.
The Polish State Treasury owns the balance of the shares in Intercell. In February 2004 the Polish State Treasury announced its intention of privatising its shareholding in the Company.
The acquisition is part of Stora Enso's strategy of increasing its Packaging Boards operations. The transaction will expand Stora Enso's corrugated packaging business and strengthen its presence in the fast-growing Polish market.
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