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Varma cuts stake in Talvivaara by 18.4 pct
May 2, 2013 / 7:02 AM / 4 years ago

Varma cuts stake in Talvivaara by 18.4 pct

HELSINKI, May 2 (Reuters) - Finnish pension fund Varma cut its stake in Finnish nickel miner Talvivaara by 18.4 percent in April, Talvivaara’s website showed on Thursday.

Varma now owns 135.5 million shares in the miner compared to a previous 165.9 million shares, although the fund is still the second-biggest owner after state investment firm Solidium, according to the website.

Varma had participated in Talvivaara’s rights issue in April, which helped the company raise 261 million euros ($344.34 million)to keep ts mine running following a costly waste water leak. ($1 = 0.7580 euros) (Reporting by Terhi Kinnunen; Editing by Ritsuko Ando)

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