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Tikkurila Divests Four of Its Subsidiaries in Eastern Europe

3:50 PM MST | March 1, 2012 | Sotirios Frantzanas

Paints and coatings company Tikkurila (Vantaa, Finland) says that a management buyout of its sales subsidiaries in Hungary, Czech Republic, and Slovakia has been finalized, and that the company has agreed to sell all of the shares in its Romanian subsidiary to the management buyout team. Dejmark Group, a company newly established by the management buyout team, continues to sell and market Tikkurila's products in the four countries, the company says. The total value of the cash transaction is €600,000 ($799,000), Tikkurila says. A five-year vendor loan with...

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