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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Finnish State Sells Most of its Kemira Stake to Private Equity Firms

9:00 AM MDT | September 12, 2007 | Alex Scott

The Finnish government has sold 32.1% of its 48.6% stake in Kemira. The government sold shares to several parties. The largest deal involved the sale of 21.4 million Kemira shares, equivalent to 17.1% of the company, to private equity firm Oras Invest (Rauma, Finland) for €349.6 million ($475 million). Kemira’s share price at the time of the transaction was €16.35. The deal makes Oras Kemira’s largest single shareholder. Paasikivi: In for the long haul. The government sold the other 15% of Kemira in separate transactions to a handful of...

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