Outokumpu sold its holding in Tibnor AB
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
24 May at 9.30 am EET
Outokumpu has sold its 15% holding in Tibnor AB, a leading Nordic distributor of
steel and metals, to SSAB. Total consideration of the sale amounts to EUR 44
million and will be paid in cash. Outokumpu will book a tax-free capital gain of
some EUR 36 million as financial income in the Group's second quarter accounts.
The transaction will have a marginal impact on Outokumpu's gearing due to the
fair-value accounting of this holding on Outokumpu's balance sheet.
For further information:
Hanna Masala, VP - M&A and Business Development
tel. +358 9 421 5561, mobile +358 40 558 1323
Ingela Ulfves, VP - Investor Relations and Financial Communications
tel. +358 9 421 2438, mobile +358 40 515 1531
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 8 000 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki. www.outokumpu.com
ENG Tibnor divestment 24.5.2011:
http://hugin.info/3010/R/1518120/454640.pdf
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Source: Outokumpu Oyj via Thomson Reuters ONE
[HUG#1518120]
Unternehmensinformation / Kurzprofil:
Datum: 24.05.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 54927
Anzahl Zeichen: 2144
contact information:
Town:
Espoo
Kategorie:
Business News
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"Outokumpu sold its holding in Tibnor AB"
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