Business News
The Finnish government proposes to transfer the state-owned Metso Corporation shares to Solidium Oy
Thursday 23. October 2008 - The Finnish State and Solidium Oy (company id 0866693-1) inform about an arrangement that would result in the Finnish States holdings in Metso Corporation to fall below and Solidium Oys holdings to exceed the thresholds set out in the Finnish Securities Markets Act, section 9 of chapter 2.
Metso Corporation has today been informed of the following:
The Finnish State and Solidium Oy (company id 0866693-1) inform about an arrangement that would result in the Finnish States holdings in Metso Corporation to fall below and Solidium Oys holdings to exceed the thresholds set out in the Finnish Securities Markets Act, section 9 of chapter 2.
The Government has on October 21, 2008 decided to propose to Parliament that state-owned equities in eight listed companies, including Metso Corporation, be transferred to the entirely state-owned Solidium Oy. The State will transfer its shares to Solidium as a capital contribution. The matter will be presented for decision to Parliament in connection with the supplementary budget. The arrangement will materialize if the proposal is accepted in Parliament and when Solidium Oys exemption order from the obligation to make a public bid, granted by Finnish Financial Supervision Authority to some other listed companies, will come into force.
The shares to be transferred to Solidium Oy include 15,695,287 Metso Corporation shares, which corresponds to 11.07 percent of the paid up share capital and votes in Metso Corporation.