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Press Release

1999-11-30

Sale of Neste Chemicals by Fortum to Industri Kapital was closed

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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.

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