Aker Kvaerner and Metso have signed the Final Sale and Purchase Agreement for Metso to acquire Aker Kvaerner’s Pulping and Power business. The letter of intent for this transaction was first announced on 8 February 2006. The closing of the transaction is subject to the necessary approval of the relevant regulatory authorities. It is anticipated that closing will take place during the second half of the year. 28 Apr 06
Following the successful completion of the due diligence process, the agreed transaction price of approximately NOK 3 billion remains unchanged. Metso Paper and Aker Kvaerner’s Pulping and Power business continue to act as separate and independent companies, competing with each other until the closing of the transaction. After all the approvals have been received, the transaction is closed, and the integration of the businesses will commence.