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Fiskars Oyj Abp and Investor AB Complete Legal Combination of Interests in Wartsila Oyj Abp and Update on Joint Venture

Thursday, 7 Feb 2013 08:00am EST 

Fiskars Oyj Abp (Fiskars) announced that Fiskars and Investor AB (Investor) have completed the legal combination of Fiskars Group’s and Investor’s interests in Wartsila Oyj Abp (Wartsila). Fiskars announced on April 24, 2012 that Fiskars Group and Investor AB (parties) had agreed to join interests to create a long-term owner for Wartsila through a joint venture and to develop the ownership strategy jointly. The joint venture company, Avlis AB, and its wholly owned subsidiary, Avlis Invest AB (former Instoria AB), (jointly the joint venture) currently hold a total of 42,948,325 shares in Wartsila, representing 21.77% of the shares and votes in Wartsila. As announced on April 24, 2012, Avlis AB is owned by Fiskars Group and Investor in relation to their respective contribution and acquisition of Wartsila shares. On February 7, 2013, Fiskars’ ownership represents 59.7% and Investor's 40.30%, respectively. As a part of the joint ownership strategy, Fiskars and Investor have agreed that the shares and votes of Wartsila held by Avlis AB and Avlis Invest AB will be primarily represented by the same representative at Wartsila's general meeting, to be elected by the party with a stronger Board representation in Wartsila. 

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-0.38 -1.01%
20 Aug 2014