India, Oct. 30 -- Stora Enso Oyj (STERV.HE), a provider of renewable products in packaging, biomaterials and wood construction, said Friday that its Board has approved a plan to spin off its Swedish forest assets business into a separate listed company, Bergslagets Skogar AB, allowing it to focus more closely on its core businesses.
The Swedish forest assets business, include forest land, forestry operations, paint and colour pigment production, and renewable energy projects. Bergslagets Skogar plans to list on Nasdaq Stockholm and Nasdaq Helsinki.
Under the proposed terms, Stora Enso shareholders will receive one share in Bergslagets Skogar for each share they hold in Stora Enso, while retaining their existing shares.
The demerger is su...