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M-real has received the EUR 190 million cash payment from Sappi

ID: 1003698
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(Thomson Reuters ONE) - M-real Corporation Stock Exchange Release 27 August 2009 at 3.15 pmM-real has received the EUR 190 million cash payment from SappiM-real Corporation, a part of Metsäliitto Group, divested its GraphicPapers business to Sappi Limited at the end of 2008 for EUR 750million. EUR 220 million of the transaction consideration was paid inthe form of four-year interest-bearing vendor notes.On 17 August 2009 M-real announced that M-real and Sappi had agreedon the early repayment of the entire vendor notes for the price of86.5 percent of their nominal value. Repayment was to occur no laterthan 30 September 2009 and was subject to completion of Sappi'srefinancing transaction.Repayment by Sappi occurred today, 27August 2009.This early repayment results in an approximately EUR 30 millionnon-recurring loss booked in M-real's 3Q 2009 result.For more information:Matti Mörsky, CFO, tel. +358 10 465 4913Juha Laine, Vice President, Investor Relations and Communications,tel. +358 10 465 4335This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Date: 08/27/2009 - 14:18
Language: English
News-ID 1003698
Character count: 0
Firma: M-real Oyj
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Stadt: London


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