Metsa-Serla Oy, a listed Finnish firm in the forest sector, and the major Northern Europe private equity fund Industri Kapital signed an agreement according to which Metsa-Serla sold Metsa-Serla Chemicals' production facilities in Finland, Sweden and Holland. The deal was also structured as a MBO.
The selling of the chemical industry was a realisation of Metsa-Serla's strategy to concentrate on its key sectors, i.e. printing and packaging.
The price for the units was around 230 million US. dollars.
Metsa-Serla Chemicals has a market share of around 25 per cent of the global chemical market and last year its turnover was around 153 million US dollars.
Metsa-Serla will participate in the new company that will take over Metsa-Serla Chemicals' business with an investment share and ownership of 20 per cent.
Industri Kapital is a Swedish investment firm with assets of over 550 million US dollars.
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ARTICLE
17 January 1997