Fin | Eng | Swe

SOLIDIUM HAS ENTERED INTO A BINDING SHARE SALE AND PURCHASE AGREEMENT OF TIETOEVRY SHARES

20.12.2019

Solidium has today agreed to purchase 4,442,500 TietoEVRY shares from the company’s largest shareholder Funds advised by Apax Partners LLP, acting through the company Lyngen Holdco S.A.R.L. (“Apax”). The purchase price is approximately EUR 122.6 million. On June 19, 2019, Solidium and Apax entered into a conditional share sale and purchase agreement under which Solidium was entitled to purchase this amount of TietoEVRY shares. Solidium announced this on June 19, 2019. Following the completion of the cross-border merger of Tieto and EVRY on December 5, 2019, Solidium’s shareholding was diluted to 6.3 % since EVRY’s shareholders hold 37.5 % of TietoEVRY.  Following today’s share sale and purchase agreement between Solidium and Apax, Solidium’s holding will revert to 10 per cent.

The foundation of the merger between Tieto and EVRY is based on highly complementary businesses in Norway, Finland and Sweden. With combined revenue of close to EUR 3 billion and 24,000 professionals, TietoEVRY is well positioned to create digital advantages for Nordic enterprises and society. TietoEVRY has its headquarters in Espoo, Finland.

 

 

Further information: CEO Antti Mäkinen, tel. +358 (0)10 830 8905

Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long term. The basis and core objective of Solidium's strategy is proper, value-enhancing asset management of its current holdings. Through its stakes, Solidium is a minority owner in thirteen listed companies: Elisa, Kemira, Konecranes, Metso, Nokia, Nokian Tyres, Outokumpu, Outotec, Sampo, SSAB, Stora Enso, TietoEVRY and Valmet. The market value of Solidium’s investments is approximately 7.7 billion euros. Further information: www.solidium.fi

News