M-real Postpones Divestment of its Premium Papers Business
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M-real Corp., Finland, has suspended negotiations to divest its Premium Papers business to a sister company of German Papierwerke Lenk AG. M-real, part of Metsäliitto Group, announced in April the Memorandum of Understanding regarding divestment of the Germany based Reflex mill's Premium Papers business to a sister company of Papierwerke Lenk AG. Consequently M-real expected to book a negative EUR 12 million non-recurring item in the Specialty Papers business area. The transaction was expected to be closed during the second quarter this year.
The parties say they will evaluate possibilities to continue negotiations later and M-real will also consider other options to divest its Premium Papers business. The EUR 12 million negative non-recurring item will not be booked in M-real's second quarter 2011 result.
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