Stock exchange release - 14 November 2005
Finnish Competition Authority continues probe in acquisition of PPTH, exit from PPTH may be postponed to 2006
The Finnish Competition Authority has issued a decision to commence further proceedings in the transaction whereby Rautaruukki Corporation (Ruukki) acquires from the funds managed by CapMan their holding in PPTH Norden Oy’s parent company PPTH Steelmanagement Oy (PPTH). The further proceedings may postpone the possible realisation of the transaction and CapMan funds’ exit from PPTH to 2006. At the same time approx. EUR 2.0 million carried interest income to be received from Fenno Fund related to the exit would be transferred to 2006. However, CapMan Plc’s result before taxes for 2005 is expected to exceed the level of the previous year.
On 29 September 2005, the Finnventure IV and Finnmezzanine II funds managed by CapMan, the Fenno Fund co-managed by CapMan and Fenno Management Oy and Ruukki signed an agreement for the full transfer of PPTH to the ownership of Ruukki. PPTH is the leading Nordic provider of steel structures and solutions to the building and construction industry. PPTH had net sales of EUR 101 million in 2004 and its value in the transaction is approx. EUR 33 million.
CAPMAN PLC
Jerome Bouix
Partner, Fundraising and IR
For further information, please contact:
Mr Olli Liitola, CFO, tel. +358 9 6155 8306 or +358 400 605 040
Distribution:
Helsinki Exchanges
Principal media
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