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Norske Skog completes sale of forestland to Ulvig Kiaer AS.

NORDIC BUSINESS REPORT-2 June 2004-Norske Skog completes sale of forestland to Ulvig Kiaer AS(C)1994-2004 M2 COMMUNICATIONS LTD

The Norwegian forest industry group Norske Skog said on Wednesday (2 June) that the Norwegian authorities had approved Ulvig Kiaer AS's acquisition of Norske Skog's forestland in Namdalen and Verran in mid-Norway.

Ulvig Kiaer is purchasing a total of 135,000 hectares for NOK153m.

The sale will result in a gain of approximately NOK140m for Norske Skog.

One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:4EXNO
Date:Jun 2, 2004
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