Sale of Neste Chemicals by Fortum to Industri Kapital was closed

The deal between Fortum and Industri Kapital 1997 private equity fund, concerning the sale of Neste Chemicals to Industri Kapital agreed on 8 October 1999, has today been closed. The relevant competition authorities have approved the transaction.

The sale price was FIM 3 billion (EUR 505 million). 100% of Neste Chemicals Oy’s business was sold to Industri Kapital. Later on some 5% of Neste Chemicals Oy’s shares will be sold to its management.