The total consideration including earn-out is up to 24 million Euros. Stora Enso has recorded a write down of 23 million Euros relating to working capital and fixed assets as non-recurring items in its first quarter 2010 results. The divestment is expected to be finalized during the second quarter of 2010.Stora Enso decided to divest Kotka mill already in 2007, but the decision was withdrawn a year later, due to the turmoil in the global financial situation.The divestment will reduce Stora Enso's annual production capacity by 180,000 tons of machine-finished coated paper (MFC), 200,000 tons of laminating paper, 40,000 tons of Imprex products, and 230,000 cubic meters of sawnwood. The 570 employees affected, including 480 working at Kotka, 50 at Tainionkoski and 40 in Malaysia, will transfer to the service of the new owner. Stora Enso and OpenGate Capital will make an agreement about wood supply as part of the divestment.Based on 2009 annual figures, the divestment is estimated to reduce Stora Enso's annual sales by 203 million Euros, improve its annual operating profit by eleven million, and reduce its working capital by 24 million Euros.OpenGate Capital is a private equity firm that acquires controlling interests in businesses with solid fundamentals that exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has its headquarters in Los Angeles and a principal office in Paris.