Finland-based stainless steel producer Outokumpu has announced that it has sold its remaining 2,705,000 shares in the silicon wafers manufacturer Okmetic Oyj to institutional investors, following which it will own no shares in the company.
The shares sold represent 15.65 percent of Okmetic's share capital. Total proceeds of the sale amount to €12.4 million and Outokumpu will book a €8.5 million non-recurring gain on this sale as financial income in its fourth quarter 2010 accounts.
The transaction was arranged by Pohjola Corporate Finance.