Solidium invests in Nokian Tyres19.3.2019
Solidium Oy has acquired 5.1 per cent of the shares in Nokian Tyres for approximately EUR 205 million, price per share EUR 29.3. The shares have been acquired from the market over the last few months. Following the share purchases, Nokian Tyres represents approximately 3 per cent of Solidium’s equity investments, totalling approximately EUR 8.1 billion.
”Nokian Tyres has successfully executed its niche strategy in the global tyre market for a long time already. The company has promising growth opportunities at its hand owing to the greenfield investment in its third production factory, which is being built in Dayton, USA, and the investment to increase production capacity in its factory in Nokia, Finland. Due to these reasons, we believe Nokian Tyres has excellent foundation to create value for its shareholders. In addition, the investment done by Solidium strengthens and stabilises Finnish ownership in the company”, says Solidium’s CEO Antti Mäkinen.
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 significant listed companies: Elisa, Kemira, Konecranes, Metso, Nokia, Nokian Tyres, Outokumpu, Outotec, Sampo, SSAB, Stora Enso, Tieto and Valmet. The value of Solidium’s total investment assets is approximately EUR 8.1 billion. Further information: www.solidium.fiNews