Stora Enso to sell part of forest assets in Sweden to reduce debt
Adds comment from company in paragraph 2, updates shares and adds milestone in paragraph 3, adds context in paragraphs 4, 6
Oct 3 (Reuters) -Stora Enso STERV.HE will put 12% of its forest assets in Sweden up for sale in a move to reduce debt and strengthen its balance sheet, the Finnish forestry group said on Thursday.
The sale is in a preparation phase and there is no information about the buyer or the schedule of a possible deal, Stora Enso's press officer Ingrid Peura said.
The company's shares rose 6.7% by 0832 GMT, the top performer on Europe's benchmark STOXX 600 index .STOXX and on track for their biggest single-day increase since July 25 if the gains hold.
High wood costs, weakening demand and uncertainties in the pulp market have put the Nordic forestry industry under pressure and led Stora Enso to announce job reductions in February.
The company owns 1.4 million hectares of forests in Sweden, it said in the statement.
Forests cover around 28 million hectares of Sweden's total land area of 41 million hectares, according to data from the Swedish Forest Industries Federation.
Reporting by Boleslaw Lasocki and Elviira Luoma in Gdansk; editing by Milla Nissi
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