A new firm, Pankakoski Board Trading, will operate the mill. The company's Chairman Dermot Smurfit says the deal will ensure the preservation of most of the mill's 200 jobs.
The same investment group already owns a second mill earlier known as Savon Sellu.
Pankakoski manufactures speciality paperboards for packaging and graphic end uses. It is one of Stora Enso's smallest profit units. Sale of the mill is part of the company's profitability improvement programme.
Stora Enso is also keeping a watchful eye on the profitability of other units. One of these in Finland is the Summa Mill, which employs 500 people in the Finnish coastal town of Hamina. It has until the end of the year to show whether it can produce newsprint, book and bulky paper grades at greater profitability than at present.
YLE24, YLE TV News