Kemira has agreed on selling its shares in Tikkurila

01-Apr-2011 - Finland

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Tikkurila Oyj has received a notification, based on the Securities Markets Act, from Kemira Oyj on March 30, 2011. According to the notification, Kemira Oyj has on March 30, 2011 entered into a Placing Agreement with Danske Bank A/S, Helsinki Branch, and Deutsche Bank AG, London Branch, according to which Kemira Oyj can sell a maximum of 6,175,155 Tikkurila Oyj shares to the market via so-called accelerated book building, and Danske Bank A/S, Helsinki Branch and Deutsche Bank AG, London Branch try to find buyers for those shares. The sale of the shares to buyers found by Danske Bank A/S, Helsinki Branch, and Deutsche Bank AG, London Branch is to be carried out after the so-called accelerated book building phase by a separate Pricing Agreement, which is expected to take place on March 31, 2011.

The shareholding of Kemira Oyj prior to the contemplated agreement leading to changes in shareholding is 6,175,155 shares, which equals 14.0 percent of all shares and their voting rights. If the share transactions will be realized based on the agreement described above, the shareholding of Kemira Oyj in all shares and votes in Tikkurila Oyj will fall below 1/10 (10%) threshold and 1/20 (5%) threshold.

https://www.chemeurope.com/en/news/131674/kemira-has-agreed-on-selling-its-shares-in-tikkurila.html