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Oras Invest increased its holdings in Tikkurila Oyj and Kemira Oyj
22 December 2010
On 25 November 2010, Oras Invest acquired 900.000 shares of Tikkurila Oyj, which corresponds to 2.04 % of the total amount of shares in Tikkurila Oyj. The purchase price was EUR 15.10 per share and the gross amount of the transaction amounted to EUR 13,6 million.
Solidium Oy sold its entire holding of 6,474,021 shares of Tikkurila Oyj, which corresponded to 14.68 % of the outstanding shares in Tikkurila Oyj. Other major buyers in this transaction are Finnish and international institutional investors.
Through this acquisition Oras Invest strengthens its holding in Tikkurila from 14.68 per cent to 16.74 per cent thus becoming by far the largest shareholder in Tikkurila.
Other large shareholders are Kemira Oyj with a 14 per cent share and the pension insurance companies Ilmarinen and Varma, each with an approximate share of 10 per cent.
Furthermore, the family has made internal arrangements selling its long-term investments to Oras Invest Oy. After these transactions, Oras Invest’s ownership in Kemira is 18.2 per cent and 18 per cent in Tikkurila.