M-real Corporation’s negotiations to divest M-real’s Premium Papers business to a sister company of German Papierwerke Lenk AG have been suspended. M-real, part of Metsäliitto Group, announced in April 2011 the Memorandum of Understanding (MoU) regarding the 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 Speciality Papers business area. Transaction was expected to be closed during 2Q 2011.
Parties will evaluate possibilities to continue negotiations later and M-real will also consider other options to divest Premium Papers business. The EUR 12 million negative non-recurring item will not be booked in M-real’s in 2Q 2011 result.