Valmet completes 14.9% ownership acquisition of Neles
Valmet Oyj’s press release on July 1, 2020 at 2:00 p.m. EET
Valmet has today completed the acquisition of 22,374,869 shares of Neles Corporation from Solidium Oy, representing 14.88% of all Neles’ shares and votes. The transaction between Valmet and Solidium was published in a stock exchange release on June 17, 2020.
The agreed purchase price is EUR 8.00 per share, corresponding to a total transaction value of EUR 179 million at the signing, paid 100% in cash. The price will be adjusted based on Neles’ share price development during certain limited time period. The possible adjustment is paid or received by Valmet in cash. The adjustment agreed is customary and capped, and will not have a material impact on the transaction value.
For further information, please contact:
Kari Saarinen, CFO, Valmet, tel. +358 50 317 1830
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2019 were approximately EUR 3.5 billion. Our more than 13,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day. Valmet's head office is in Espoo, Finland and its shares are listed on the Nasdaq Helsinki.