Stora Enso announced that it plans to sell its North American unit for $2.1 billion to a company owned by the private equity firm, Cereberus Capital. The transaction comprises $1.5 billion in cash and a 20 percent equity stake worth $370 million and $200 million in vendor notes. Stora Enso expects to focus its operations and improve its long term earnings through the deal. This news led to a seven percent increase in the stock in Helsinki.