PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: Outokumpu OYJ

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Outokumpu Comments The Transaction with ThyssenKrupp Announced on November 30 - Outokumpu now comments speculations related to the transaction made with ThyssenKrupp
Outokumpu Comments The Transaction with ThyssenKrupp Announced on November 30

 

NewswireToday - /newswire/ - Espoo, Finland, 2013/12/09 - Outokumpu now comments speculations related to the transaction made with ThyssenKrupp. OUT1V

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Outokumpu announced on November 30, 2013 comprehensive measures to strengthen its balance sheet and the divestment of Terni and VDM business to ThyssenKrupp in exchange for Outokumpu’s loan note to ThyssenKrupp (EUR 1.269 million at the end of September 2013) at full amount at closing. Outokumpu now comments speculations related to the transaction made with ThyssenKrupp.

First, Outokumpu believes that with this arrangement the company secured the best possible price on Terni and VDM under the circumstances. The consideration for the transaction for both business units is higher than the market estimates in the past months. Second, the consideration for the divestment of Terni and VDM was determined separately from the sale of ThyssenKrupp shareholding. Outokumpu was not involved in the negotiations regarding the terms and conditions of the sale of ThyssenKrupp’s Outokumpu shares.

ThyssenKrupp committed to sell its 29.9% shareholding in Outokumpu due to the requirement of the European Commission regarding the buyer suitability for Terni remedy assets that restricts ownership between Outokumpu and ThyssenKrupp. ThyssenKrupp agreed the price of the shares with the buyers and Outokumpu emphasizes that it was not a party to the sale of the shares. It is Outokumpu’s understanding that the price of these shares was influenced by the size of ThyssenKrupp’s current shareholding stake in Outokumpu, tight time frame caused by the requirement of the European Commission and the special terms and conditions of the planned rights issue of Outokumpu to which the buyers of the shares had to commit to.

Outokumpu believes that the transaction with ThyssenKrupp benefits all Outokumpu shareholders: the consideration for Terni and VDM business is the best possible under the circumstances and the arrangement significantly strengthens the company’s balance sheet.

Contacts:
Investors: Johanna Henttonen, T: +358 9 421 3804 or +358 40 530 0778
Media: Kari Tuutti, T: +358 40 717 0830

About Outokumpu Group

Outokumpu (outokumpu.com) is the global leader in stainless steel and high performance alloys. We create advanced materials that are efficient, long lasting and recyclable thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs more than 15 000 professionals in more than 40 countries, with headquarters in Espoo, Finland and shares listed in the NASDAQ OMX Helsinki.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Outokumpu OYJ

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


Outokumpu Comments The Transaction with ThyssenKrupp Announced on November 30

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

OUTOKUMPU OYJ |
Publisher Contact: Press Office - Outokumpu.com 
+358 9 421 2569 corporate.info[.]outokumpu.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Outokumpu OYJ securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Outokumpu OYJ / Company Profile


Read Energy Most Recent Related Newswires:

ANDRITZ Receives Two Orders for Hydropower Plants in Norway and Democratic Republic of the Congo
Elemize Wins 'Call for Disruption in Energy' Competition Promoted by Intermonte, Enel, Consilia and Ascomfidi
Roncevaux Wind Farm in Québec Begins Commercial Operation
ENGIE Wins Public Service Delegation Contract for A New Geothermal Heating Network in the Plaine Rive Droite Area of Bordeaux
GE Announces Transocean Performance-based Service Agreement
Enel and Saudi Electricity Company Sign Framework Agreement to Cooperate in Power Distribution
ENGIE Signs an Agreement for the Development of Renewable Energies in Senegal
Enel Acquires US-based Energy Storage Software and Project Developer Demand Energy
SolarWinds Recognized as Market Leader in Network Management Software
Frost & Sullivan Recognizes Aclara Technologies for Providing an End-to-end Smart Infrastructure Solution for Energy Companies
DCNS and Bpifrance Announce the Creation of DCNS Energies - A New Player with Global Ambitions in Marine Renewable Energies
SolarWinds Partners with OpsGenie to Meet Customers’ Alerting and On-Call Management Needs
Frost & Sullivan Commends Batteroo for Developing a Solution that Can Dramatically Increase Disposable Battery Optimization
ENGIE and Crédit Agricole Assurances Strengthen their Onshore Wind Power Partnership in France
GE Hitachi Nuclear Energy Awarded Contract to Dismantle Swedish Nuclear Reactors

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  NAKIVO, Inc.

Visit  BizJobs.com





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)