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Fri, Aug 7, 2020 05:28
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Management Side

Valmet completes 14.9% ownership acquisition of Neles

Valmet has 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.


 


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