Stora Enso Initiates Strategic Review of Its Swedish Forest Assets

On Wednesday, Stora Enso announced that as part of its stronger focus on renewable packaging, it is initiating a strategic review of its Swedish forest assets. The review includes assessing a potential separation and public listing of the forest assets through a partial demerger. The initiative aims to further increase business focus, streamline operations, and fully unlock the value of both the forest assets and Stora Enso’s core packaging business.

As part of this review, Stora Enso will explore various options, including a potential separation and listing of the forest business through a partial demerger into a new company that would be wholly owned by all Stora Enso shareholders. This move aims to establish two robust and independent entities, each with heightened focus and strategic agility. Stora Enso would continue to lead in renewable packaging, with strong market positions and more flexible, integrated, and cost-competitive production. Meanwhile, the Swedish forest business would emerge as Europe’s largest listed pure forest company, owning a unique class of assets with anticipated long-term value appreciation and potential for significant new revenue streams.

This follows the recent agreement to divest approximately 175,000 hectares (432,000 acres) of Swedish forestland for an enterprise value of EUR 900 million. Stora Enso retains ownership of over 1.2 million hectares (2.97 million acres) of which 1.0 million hectares (2.47 million acres) are of productive forestland in Sweden, with a fair value of approximately EUR 5.8 billion as of March 31. While these assets are integral to Stora Enso’s wood supply chain, they possess a distinct operational, financial, and strategic profile.

Stora Enso plans to provide an update on the strategic review by the end of 2025. All changes are subject to co-determination negotiations and other potential legal procedures in all impacted countries.


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