Logout
Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
Search
My Profile
Login
Ahlstrom has Sold Shares in Munksjö Oyj
Print

Helsinki, Finland 09 January 2014 -- Ahlstrom, a global high performance fiber-based materials company, has today sold 2,314,000 shares in Munksjö Oyj for approximately EUR 11.8 million.

Ahlstrom's holding in Munksjö is included in other investments in the balance sheet and is valued at fair value. Ahlstrom will book a capital loss of EUR 0.7 million from the transaction in its Q1/2014 financial accounts.

Based on a price risk sharing agreement between Ahlstrom and EQT, the largest shareholder in Munksjö, Ahlstrom is entitled to compensation from EQT in Munksjö shares for 50% of the difference between the original subscription price of the sold shares and the selling price. Due to the agreement Ahlstrom has recorded in the 2013 financial accounts an income of EUR 3.8 million and will record a further income of 0.4 million in its Q1/2014 financial accounts. In total, the impact on Ahlstrom's equity will be negative EUR 0.4 million.

"This was the appropriate time to reduce our shareholding in Munksjö given the interest in the market. By this transaction we strengthen our balance sheet, and at the same time Munksjö's shareholder base will be broadened," said Ahlstrom's President & CEO Jan Lång.

A total of 700,000 of the sold shares valued at approximately EUR 3.57 million are sold to Vimpu Intressenter Ab, the largest shareholder of Ahlstrom.

Following the sale of shares, Ahlstrom's shareholding in Munksjö will be 6,767,220 shares, representing 13.25% of total shares. Assuming EQT will compensate Ahlstrom in Munksjö shares, Ahlstrom's shareholding in Munksjö will increase to 7,585,873, or 14.86% of the total shares.

Ahlstrom in brief

Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate. In 2012, Ahlstrom's net sales from the continuing operations (excluding Label and Processing business) amounted to EUR 1 billion. Our 3,800 employees serve customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. More information available at www.ahlstrom.com.

 
 

Related Articles:


Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: