Stora Enso, through its Merchants division Papyrus, has acquired the French paper merchant Papeteries de France from International Paper. The transaction was closed in April 2005. The debt free transaction value is estimated to be EUR 18 million. The acquisition is a further step in strengthening the Papyrus presence in France and Western Europe. Following the acquisition, Papyrus will become the second-biggest paper merchant in France, with annual sales of about EUR 260 million and 345 employees. The annual sales volume in France is some 260,000 tonnes of fine paper.
Pöyry Capital acted as the Exclusive Financial Advisor to Papyrus AB and Stora Enso Oyj.