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.