The partial demerger of Metso has become effective, whereby Metso Minerals and Outotec have been merged into Metso Outotec, a leading company in equipment, services and process technology serving the minerals, metals and aggregates industries. The complementary offering, capabilities in technology and services as well as global footprint of Metso Minerals and Outotec create a solid ground for the combination and enable significant synergy benefits. Following the merger, Solidium now holds 14.9% of Metso Outotec.
As a result of the combination of Metso Minerals and Outotec, Metso will continue under the name Neles Corporation, which is a leading, globally recognized pure-play flow control company. Solidium has today completed the sale of its 14.9 per cent stake, i.e. approximately 22.4 million shares, in Neles Corporation to Valmet Oyj (”Valmet”). The purchase price is EUR 8.00 per share, totaling EUR 179 million. The agreement between Solidium and Valmet was published on 17 June 2020. The purchase price will be adjusted based on Neles’ share price development. In addition, the agreement includes an anti-embarrassment clause, according to which Solidium could be entitled to an additional cash payment in certain circumstances during a three-year period after the closing. The agreement includes a one-year lock-up period, during which Valmet may not dispose its shares in Neles without Solidium’s approval. Solidium retains the right of first refusal for a period of three years after the closing.
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 twelve listed companies: Elisa, Kemira, Konecranes, Metso Outotec, Nokia, Nokian Tyres, Outokumpu, Sampo, SSAB, Stora Enso, TietoEVRY and Valmet. The market value of Solidium’s investments is approximately EUR 7.0 billion. Further information: www.solidium.fi
