The business agreement between Södra and VAROPreem regarding Södra's holding in SunPine AB has now been approved and completed.

Södra has been a co-owner of SunPine AB since 2008, with the aim of driving the development and market for renewable products based on tall oil, an important part of making more from every tree and thereby increasing the profitability of family forestry. As SunPine's business operations, and consequently its need for expertise and ownership, changed, Södra decided to sell its 25% ownership interest to VAROPreem. The sale of the shares has now been completed and the transaction is therefore finalised.

"Our purpose with SunPine was to drive the development and market for tall oil, and we have succeeded in doing so. In addition, it has been a profitable investment. Through the sale, the company can enter its next phase, while we can focus our resources on other areas that make a difference to the long-term value of family forestry", says Lotta Lyrå, President and CEO of Södra.

The sale contributes to Södra's financial stability and to priorities that strengthen competitiveness over time. The divestment of the shares is expected to have a positive impact on Södra's earnings and will be recognised in the third quarter.