Product category:
Pulp and Paper Process News
News Release from: Aker Kvaerner Pulping
Edited by the Processingtalk Editorial
Team on 03 January 2007
Aker Kvaerner sale of Pulping and Power
finalised
The Aker Kvaerner sale of its Pulping and Power businesses to Metso Corporation was closed on 29 December as expected
The Aker Kvaerner sale of its Pulping and Power businesses to Metso Corporation was closed on 29 December as expected The final transaction value will be based on the balance sheet as of 31 December 2006
Aker Kvaerner confirms the estimates given in the announcement on 8 February 2006.
The estimated transaction value is approximately NOK 3 billion, net cash effect around NOK 2.6 billion and net gain compared to book value about NOK 2.4 billion.
The profit earned during 2006 will be consolidated into the Aker Kvaerner accounts.
"The completion of this transaction on time strengthens the Aker Kvaerner financial situation and the opportunities for further development of the company," says Martinus Brandal, President and CEO of Aker Kvaerner.
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