Published: 08:30 CEST 24-05-2011 /Thomson Reuters /Source: Outokumpu Oyj /XHEL: OUT1V /ISIN: FI0009002422
STOCK EXCHANGE RELEASE
24 May at 9.30 am EET
Outokumpu has sold its 15% holding in Tibnor AB, a leading Nordic distributor of steel and metals, to SSAB. 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.
For further information:
Hanna Masala, VP - M&A and Business Development
tel. +358 9 421 5561, mobile +358 40 558 1323
Ingela Ulfves, VP - Investor Relations and Financial Communications
tel. +358 9 421 2438, mobile +358 40 515 1531
OUTOKUMPU OYJ
Outokumpu 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. www.outokumpu.com
ENG Tibnor divestment 24.5.2011
Outokumpu est une société basée en Finlande.