May 26, 2014 / 6:46 AM / 3 years ago

Finland to sell Destia to Ahlstrom Capital -source

HELSINKI, May 26 (Reuters) - Finland’s five-party government has agreed to sell Destia, a road and rail construction group fully owned by the state, to private equity firm Ahlstrom Capital for around 150 million euros ($204 million), a source aware of the plan told Reuters.

The deal is expected to be announced on Monday, the source, speaking under condition of anonymity, said. Neither the government nor Ahlstrom Capital were immediately available to comment.

Destia, with annual sales of around 500 million euros, competes with companies such as YIT, NCC and Skanska, as well as VR Track, another state-owned company.

The Finnish government in March agreed to raise around 1.9 billion euros from asset sales in 2014-2015 as it looks to reduce the need for borrowing. ($1 = 0.7336 Euros) (Reporting by Jussi Rosendahl; editing by Jason Neely)

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