AMF completed 89.9% stake acquisition of Bergvik Skog Öst for $1.3bn.

AMF Pensionsforsakring, a Sweden's pension company, completed an 89.9% stake acquisition of Bergvik Skog Öst, a private landowner, from BillerudKorsnäs, a Swedish pulp and paper manufacturer, for $1.3bn (SEK12.2bn). “With the sale of Bergvik Skog Öst and the agreed wood supply contract from this forestland, we are creating good possibilities for a competitive and stable wood supply, both in the short-term and the long-term. We are keeping a minority stake and will have a long-term co-operation with AMF. Also, the sale releases significant capital, which will enable investments and acquisitions. BillerudKorsnäs is well-positioned to capture the increasing demand for sustainable packaging solutions,” Petra Einarsson, BillerudKorsnäs President and CEO.