We are advising Metsä Board Corporation in the sale of the entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy.
Hangö Stevedoring is a port operator in the Port of Hanko and its business is not part of Metsä Board’s core business. The company has approximately 180 employees and its sales in 2020 were approximately EUR 20 million.
Metsä Board is a leading European producer of premium fresh fibre paperboards. Metsä Board focuses on lightweight and high-quality folding boxboards, food service boards and white kraftliners. Metsä Board is the forerunner in sustainability, and they aim to have completely fossil free mills and raw materials by 2030. In 2020, Metsä Board’s sales totalled EUR 1.9 billion, and they have around 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.
Euroports Finland Oy is Finland’s leading full-service port operator, which offers a range of value-added services. Euroports Finland is part of the international Euroports Group, which operates in 32 terminals and logistic platforms globally and has a workforce of about 3,000 employees.
The transaction is expected to be completed in the first quarter of 2022.
