0 HTTP/1.1 200 OK Cache-Control: no-cache, must-revalidate, max-age=0 Cache-control: no-cache="set-cookie" Content-Type: text/html; charset=UTF-8 Date: Sun, 21 Apr 2019 16:25:22 GMT Expires: Wed, 11 Jan 1984 05:00:00 GMT Link: ; rel="https://api.w.org/" Referrer-Policy: no-referrer-when-downgrade Server: nginx Set-Cookie: AWSELB=D7097D502CD055987D704305F2AF3F725DBFB551A47C042013DF092C8339A5F7D0CD581C7F9041FA56EC1B6135A9360A57137EBE0FC8773C74C74C10EA8BEE952BBBF773;PATH=/;MAX-AGE=30 X-Content-Type-Options: nosniff X-Frame-Options: SAMEORIGIN X-TEC-API-ORIGIN: https://www.icis.com/explore X-TEC-API-ROOT: https://www.icis.com/explore/wp-json/tribe/events/v1/ X-TEC-API-VERSION: v1 X-XSS-Protection: 1; mode=block transfer-encoding: chunked Connection: keep-alive 471f Finland's Kemira sells remaining shares in paint firm Tikkurila - ICIS Explore

Finland's Kemira sells remaining shares in paint firm Tikkurila

Source: ICIS News


STOCKHOLM (ICIS)--Kemira has sold its remaining shares in decorative paints company Tikkurila, by way of an accelerated book-built offering, the Finland-based chemical company said on Thursday.

In March 2010, Kemira handed out 86% of Tikkurila's shares as a dividend to its shareholders and listed the company on the NASDAQ OMX Helsinki stock exchange.

Kemira has sold the remaining 6,175,155 Tikkurila shares, or 14.0% of the total, for about €97.6m ($137.5m).

The identity of the buyer is not yet known.

“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," said Kemira CFO Jyrki Maki-Kala.

In 2010, Tikkurila had revenues of €588.6m and posted earnings before interest and tax (EBIT) of €59. 42cd 7m. The company has strong market positions in Scandinavia, eastern Europe and Russia.

($1 = €0.71)

For more on Kemira visit ICIS company intelligence