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Outokumpu Sold its Holding in Tibnor AB - Outokumpu has sold its 15% holding in Tibnor AB, a leading Nordic distributor of steel and metals, to SSAB
Outokumpu Sold its Holding in Tibnor AB

 

NewswireToday - /newswire/ - Espoo, Finland, 2011/05/24 - Outokumpu has sold its 15% holding in Tibnor AB, a leading Nordic distributor of steel and metals, to SSAB. OUT1V

   
 
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Total consideration of the sale amounts to EUR 44 million and will be paid in cash. Outokumpu will book a tax-free capital gain of some EUR 36 million as financial income in the Group's second quarter accounts. The transaction will have a marginal impact on Outokumpu's gearing due to the fair-value accounting of this holding on Outokumpu's balance sheet.

About OUTOKUMPU OYJ

Outokumpu (outokumpu.com) is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 8 000 people in more than 30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.

For further information:

Ingela Ulfves, VP - Investor Relations and Financial Communications
T: +358 9 421 2438, mobile +358 40 515 1531

 
 
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Written by / Agency / Source: Outokumpu OYJ

 
 

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Outokumpu Sold its Holding in Tibnor AB

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OUTOKUMPU OYJ |
Publisher Contact: Hanna Masala - Outokumpu.com 
+358 9 421 5561 / Mob +358 40 558 1323
 
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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.

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