Final decision in ten-year valuation dispute

Final decision in ten-year valuation dispute

As stated in the annual report for 2006 (Note 30 Contingent liabilities, page
84) over the past ten years there has been a dispute between the minority
shareholders and SCA concerning the valuation of PWA at the time when the
so-called control agreement was established in 1997. In October 2004 the court
of first instance set the value at EUR 188.67 per share and the annual dividend
at EUR 17.32 per share. The minority shareholders and SCA appealed this
decision. On 23 July 2007 the final court of appeal (Oberlandesgerichts München)
issued a final decision on this issue whereby the value was set at EUR 231.60
per share and the annual dividend at EUR 16.20 per share. The effect of this
court decision is that SCA must pay an additional purchase price of EUR 39
million (excluding interest, estimated at approximately EUR 17 million) for the
shares acquired previously as well as an additional dividend of EUR 11 million
(excluding interest). The remaining minority shareholders (3.4% of the shares in
the company) are entitled during a two-month period after the decision to
require SCA to redeem their shares for the value specified in the court
decision, which for all outstanding shares corresponds to a purchase price of
EUR 56 million. 

SCA's acquisition of the majority shareholding in 1995 was effected at a price
corresponding to an EBITDA multiple of 4.5. The additional purchase price that
now applies comprises 3.8% of SCA's total acquisition price for the shares. The
additional purchase price, including interest, will be capitalized in the
accounts as an acquisition cost. The additional dividend, including interest,
will be reported as a dividend. 



For further information please contact
Bodil Eriksson, SVP Communications and Investor Relations, +46 8 788 52 34
Pär Altan, VP Media Relations, +46 8 788 52 37


Stockholm, 24 July 2007  


Note
SCA discloses the information provided herein pursuant to the Swedish Securities
Exchange and Clearing Operations Act and/or the Swedish Financial Instruments
Trading Act. The information was submitted for publication at 9.15 CET, on 24
July 2007.


Svenska Cellulosa Aktiebolaget SCA is a global consumer goods and paper company
that develops, produces and markets personal care products, tissue, packaging
solutions, publication papers and solid-wood products. Sales are conducted in
some 90 countries. SCA has annual sales in excess of SEK 101 billion (c. EUR 11
billion) and production facilities in more than 40 countries. SCA had
approximately 51,000 employees at the beginning of 2007. SCA shares are traded
on the Stockholm, London and New York stock exchanges. For more information,
visit www.sca.com