Norske Skog leaves Brazil
Norske Skog has entered into an agreement to sell the remaining 49% of the shares in Norske Skog Pisa in Brazil to Papeles Bio Bio.
- We are pleased that we are selling the remaining stake in the Brazilian operations earlier than expected. For some time, we have stated that we aim to have our core business in Europe and Australasia. The sale is also part of our strategy to improve our liquidity, says Sven Ombudstvedt, President and CEO of Norske Skog.
Papeles Bio Bio, controlled by Group BO / Pathfinder, a consortium of Chilean investors, will continue to develop the activities in Brazil together with its operations in Chile.
Following this transaction, Norske Skog will no longer have paper production in South America.