SOLIDIUM SELLS ALL ITS SHARES IN SPONDA PLC
(Thomson Reuters ONE) -
The sales proceeds amount to EUR 148 million
Solidium has agreed to sell its entire holding in Sponda Plc to a Finnish
investor group, Oy PALSK Ab. The owners of Oy PALSK Ab are Föreningen
Konstsamfundet, Sigrid Juséliuksen Säätiö, Stiftelsen för Åbo Akademi, Veritas
Pension Insurance Company Ltd and Svenska litteratursällskapet i Finland. Before
the disposal Solidium owned 42,163,745 shares in Sponda Plc corresponding to
approximately 14.9 per cent of the outstanding shares. The execution price is
EUR 3.50 per share, sales proceeds approximately EUR 148 million and the capital
gain before tax approximately EUR 71 million. The execution price is 14 per cent
higher than the last 6 months volume weighted average price and 5 per cent
higher than yesterday's closing price. The transaction will be executed on 30
October 2012 at the latest.
"The disposal of all our remaining shares in Sponda is a natural continuation to
our executed disposal 2 years ago when we decreased our holding from 34 per cent
to 15 per cent. We were now offered an opportunity to sell the shares at a
premium to the current share price and through this transaction we execute our
company-specific ownership strategy. We are very satisfied that Sponda's
ownership remains strongly in Finland even after these transactions", says
Solidium's Managing Director Kari Järvinen.
Further information: Managing Director Kari Järvinen, Solidium Oy, tel. +358
(0)10 830 89 05
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. Investment
activities are based on financial analysis. The core of Solidium's investment
strategy is proper, value enhancing asset management of the current holdings.
Through its stakes, Solidium is a minority owner in eleven listed companies:
Elisa, Kemira, Metso, Outokumpu, Outotec, Rautaruukki, Sampo, Stora Enso,
Talvivaara Mining Company, TeliaSonera and Tieto. The market value of Solidium's
equity investments is approximately EUR 7.1 billion at the date of this press
release. Further information: www.solidium.fi.
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Solidium Oy via Thomson Reuters ONE
[HUG#1648372]
Unternehmensinformation / Kurzprofil:
Datum: 19.10.2012 - 08:05 Uhr
Sprache: Deutsch
News-ID 194172
Anzahl Zeichen: 2972
contact information:
Town:
Helsinki
Kategorie:
Business News
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"SOLIDIUM SELLS ALL ITS SHARES IN SPONDA PLC"
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