Södra Completes Sale of 25% SunPine Stake to VAROPreem
Södra’s sale of its holding in SunPine AB has been completed
Södra announced that it has completed the sale of its 25% ownership interest in SunPine AB to VAROPreem following approval of the transaction.
Södra had been a co-owner of SunPine since 2008, supporting the development and market for renewable products based on tall oil. The company said SunPine’s changing operations and ownership needs led to the divestment.
Södra said the sale supports its financial stability and long-term competitiveness. The divestment is expected to positively affect earnings and will be recognized in Q3.
Södra President and CEO Lotta Lyrå said:
“Our purpose with SunPine was to drive the development and market for tall oil, and we have succeeded in doing so. In addition, it has been a profitable investment. Through the sale, the company can enter its next phase, while we can focus our resources on other areas that make a difference to the long-term value of family forestry.”
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