Solidium has today conditionally agreed to purchase approximately 4.4 million Tieto shares from EVRY’s largest shareholder Funds advised by Apax Partners LLP, acting through the company Lyngen Holdco S.A.R.L. (“Apax”). The sale and purchase contemplated is conditional, among other, upon the completion of the merger of Tieto and EVRY and includes customary conditions precedent.
Solidium’s shareholding in Tieto is currently 10.0%. After completion of the cross-border merger of Tieto and EVRY, Solidium’s shareholding would be diluted to 6.3% since EVRY’s shareholders will hold 37.5% of TietoEVRY. If the share sale and purchase between Solidium and Apax is completed, Solidium’s holding would remain at 10.0%.
Tieto has published more detailed information about the merger yesterday 18 June 2019.
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, Tieto and Valmet. The market value of Solidium’s investments is approximately 8.1 billion euros. Further information: www.solidium.fi