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Stora Enso completes divestment of paper production business in China

Finnish renewable solutions provider Stora Enso Oyj completed the previously announced divestment of a 60% stake in China's Dawang paper mill to its joint venture partner Shandong Huatai Paper Industry Shareholding Co. Ltd.

Stora Enso's net debt and annual sales will fall by nearly 22 million and €60 million, respectively, as a result of the deal, which ends the company's paper production in China.

The deal will have no material effect on the company's operational earnings before interest and tax.