Norske
Skog has agreed to sell 51% of the shares in Norske Skog Pisa in Brazil to
Papeles Bio Bio S.A., (former Norske Skog Bio Bio) which is controlled by Group
BO/Pathfinder, a consortium of Chilean investors. The agreed purchase price for
the 51 % stake is USD 41.3 million.
The
Pisa mill has a total newsprint production of approximately 170 000 tons, and
is one of total four newsprint mills in South-America. Papeles Bio Bio has
agreed upon the terms of purchasing Norske Skog's remaining shares in the
Brazilian operations within an expected time horizon of one to two years.
