Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Metso Completes Acquisition of Aker Kvaerner's Pulping and Power Businesses
Helsinki, Finland, 29 December 2006 -- Metso Corporation has completed the acquisition of Aker Kvaerner's Pulping and Power businesses. The businesses were transferred to Metso on 29 December 2006. The European Commission clearance for the acquisition was received on 12 December 2006.

The cash and interest-bearing debt-free acquisition price, agreed in April 2006 when the sales and purchase agreement was signed, was approximately EUR 335 million. The final transaction price will be based on the balance sheet at the time of the closing. Metso will disclose the final transaction value, including the adjustments related to the remedy package, after the parties have agreed upon the closing balance sheet.

Metso has also completed the sales and purchase agreement of the remedy package concerning the divestment of Metso Paper's and Aker Kvaerner's overlapping pulping businesses to the Canadian Groupe Laperrière & Verreault Inc. (GL&V). The remedy package was transferred to GL&V on 29 December 2006. The divestment of the remedy package was conditional on the approval received from the European Commission. The parties have agreed that the transaction value will not be disclosed.

Metso is a global engineering and technology corporation with 2005 net sales of approximately EUR 4.2 billion. Its 25,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry, and selected other industries.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: