Kemira Oyj has completed the accelerated book-built offering of its entire holding of shares in Tikkurila Oyj. Kemira sold 6,175,155 Tikkurila shares, corresponding to 14.0 percent of the total number of shares and votes in Tikkurila. The sale price in the Placing was EUR 15.80 per share and the gross sales proceeds of the Placing amounted to approximately EUR 97.6 million. This transaction does not impact the Kemira result.
Jyrki Mäki-Kala CFO of Kemira Oyj comments: "The successful listing of Tikkurila on the NASDAQ OMX Helsinki was one of the milestones of 2010. 86% of Tikkurila's shares were distributed as dividends to Kemira's shareholders. Now the rest of Kemira's Tikkurila shares have been sold and we have taken yet another step in implementing our strategy focusing on water treatment chemistry."
Danske Bank A/S and Deutsche Bank AG, London Branch acted as joint bookrunners and managers for the Placing.