Ahlstrom completes divestment of its wipes fabrics, Home and Personal business area to Suominen on Oct. 20 for €170M, becomes largest shareholder in Suominen with 27.1% stake
Kendall Sinclair
HELSINKI
,
October 21, 2011
(press release)
–
Ahlstrom Corporation, a global high performance materials company, and Suominen Corporation have confirmed the closing of the divestment of Ahlstrom's wipes fabrics, the Home and Personal business area, to Suominen Corporation on October 20, 2011. The business will be transferred on October 31, 2011, except for the Brazilian part of the business, which is estimated to be transferred in the first quarter of 2012.
The transaction was signed on August 4, 2011, and the total value of the transaction is approximately EUR 170 million. Following the transaction, Ahlstrom becomes the largest shareholder in Suominen with a 27.1% stake. Ahlstrom has committed not to decrease its ownership in Suominen below 20% for a maximum of two years.
In line with Ahlstrom's strategy, the divestment will steer the company towards a more focused business and product portfolio.
The competition authorities in Spain, Germany and USA have approved the transaction. The approval from the competition authorities in Brazil is expected to be received in the first quarter of 2012 and is not a prerequisite for completing the transaction.
Ahlstrom in brief
Ahlstrom is a high performance materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, wallcovers, wipes, flooring, labels and food packaging. We have a leading market position in the businesses in which we operate. Our 5,700 employees serve customers in 26 countries on six continents. In 2010, Ahlstrom's net sales amounted to EUR 1.9 billion. The company's share is quoted on the NASDAQ OMX Helsinki. More information available atwww.ahlstrom.com.
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