OUTOTEC OYJ STOCK EXCHANGE RELEASE, FEBRUARY 5, 2010 AT 2.30 PM
Outotec's holding in Ausmelt above 90%
Outotec has increased its shareholding in Australian public company Ausmelt Ltd through takeover offer acceptances and market purchases. According to the preliminary information received by Outotec, Outotec's holding in Ausmelt is 92.1 percent, which, in accordance with the Australian corporations law, entitles Outotec to proceed with the compulsory acquisition of all of the outstanding Ausmelt shares. The compulsory acquisition is expected to take approximately 4-6 weeks. In the transaction, Ausmelt is valued at approximately AUD 50 million (approximately EUR 31 million).
Outotec announced in December 2009 that it had acquired 19.9 percent of the outstanding shares in Ausmelt and launched an off-market takeover bid to acquire all the remaining shares. Outotec's takeover offer closes at 7.00 pm Australian Eastern Standard Time (AEST) on February 8, 2010.
"Ausmelt has an excellent strategic fit with Outotec. This acquisition complements our technology portfolio in environmentally sound smelting technologies, and allows us to offer smaller scale copper and nickel smelters as well as solutions for ferrous metals, zinc, lead and tin concentrates, zinc bearing residues, recycling and various secondary and waste materials. We believe that within Outotec there are significant growth opportunities for the Ausmelt business," says Pertti Korhonen, CEO of Outotec.
For further information, please contact:
Harry Linnarinne, Senior Vice President - Business Development
tel. +358 20 529 2020
Eila Paatela, Vice President - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198
John Taylor, Managing Director
tel. +61 3 9674 2301
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