The group intends to sell approximately 12% of its extensive 1.4 million hectares of forest assets in Sweden, out of a total of 2.5 million hectares of forest and plantation land it owns.

As of the half-year mark, Stora Enso's net debt had risen by 466-million euros to nearly 3.5-billion euros, largely attributed to investments in board production and conversion at its Oulu Mill. The proposed sale will necessitate the establishment of a new legal structure for its Swedish forest assets to facilitate the transaction.

Stora Enso recorded sales of 9.4-billion euros last year.

The group emphasised that any potential transaction would be contingent upon reaching an agreement with investors on terms and conditions, including a long-term wood supply and forest management agreement.