Business News
The Finnish government has transferred the state-owned Metso Corporation shares to Solidium Oy
Monday 15. December 2008 - The Finnish State and Solidium Oy (company id 0866693-1) have on December 11, 2008 informed about an arrangement that has resulted 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 Finnish State has on December 11, 2008 transferred all its Metso Corporation shares to the entirely state-owned Solidium Oy as a capital contribution.
The shares 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. After the transfer, there are no Metso Corporation shares owned by the state.
Underlying the arrangement, the Government decided on October 21, 2008 to propose to Parliament that state-owned equities in eight listed companies, including Metso Corporation, be transferred to the entirely state-owned Solidium Oy. (See Metso company release on October 22, 2008).The arrangement materialized when the proposal was accepted in Parliament in connection with the supplementary budget.