Sale of Norske Skog's two mills in China completed

   Moscow. Nov 18, 2009. /Lesprom Network/. Norske Skog has completed the sale of its Hebei newsprint mill in China, as well as of the 56% stake in SNP newsprint mill in Shanghai, Norske Skog said in a press release received by Lesprom Network.

In July Norske Skog announced that an agreement had been made under which Potential Industries took over all of Norske Skog's shares in SNP. The transaction was contingent upon approval from Chinese authorities. Such approval is given, and the transaction is now completed.

Such approval is now also given regarding Norske Skog's divestment of its Hebei mill, and the transaction is completed. Norske Skog announced in September that the company had entered into an agreement with the Chinese company Shandong Huatai Paper to sell the newsprint mill Norske Skog Hebei.