UPM-Kymmene Corporation Stock exchange release 19 April 2011 at 10:10 EET
The energy company Pohjolan Voima Oy, the State of Finland and the Mutual Pension Insurance Company Ilmarinen today signed a contract on the sale of Pohjolan Voima's 25% shareholding of Fingrid, the Finnish electricity transmission system operator. The transaction will be closed today.
The State acquires approximately 81% of the shares and Ilmarinen approximately 19% of the shares owned by Pohjolan Voima. The transaction price is EUR 325 million, and Pohjolan Voima will record a capital gain of EUR 200 million for the transaction.
UPM owns 43.12% of Pohjolan Voima. UPM will recognise a special income of EUR 86 million from the sale in the associated company results in the second quarter.
UPM, Corporate Communications