Valmet and Neles to merge

Together they create a leading company with a unique offering for process industries globally

The Boards of Directors of Valmet Oyj and Neles Corporation signed a combination agreement and merger plan to combine the two companies through a merger on July 2, 2021. The Extraordinary General Meetings of Valmet and Neles resolved to approve the merger on September 22, 2021. On this page you will find updated information and relevant materials of this transaction process. Until completion, the companies continue to act fully independently of each other.

Neles’ EGM was held on Wednesday, September 22

The General Meeting approved the merger of Neles and Valmet and authorized the Board of Directors to resolve on an extra distribution of funds.

  • The Boards of Directors of Valmet Oyj and Neles Corporation have on July 2, 2021, signed a combination agreement and a merger plan to combine the two companies through a merger.
  • The Extraordinary General Meetings of Valmet and Neles resolved to approve the merger on September 22, 2021.
  • The combined company will be a leading company with a unique offering for process industries globally with illustrative combined net sales for 2020 of approximately EUR 4.3 billion. In addition, it will have a globally balanced expert organization of 17,000 professionals.
  • The proposed combination will be implemented as a statutory absorption merger whereby Neles will be merged into Valmet. The name of the combined company will be Valmet Oyj.
  • Upon completion, Neles’ shareholders (excluding Valmet as well as Neles with respect to treasury shares held by Neles) will receive as merger consideration 0.3277 new shares in Valmet for each share they hold in Neles on the record date whereby, based on the current number of shares issued, Neles shareholders (excluding Valmet as well as Neles with respect to treasury shares held by Neles) would own approximately 18.8 percent of the shares and votes of the combined company, and Valmet shareholders would own approximately 81.2 percent of the shares and votes of the combined company.
  • The execution of the merger is still subject to, inter alia, obtaining necessary merger control approvals by the relevant competition authorities. The planned Effective Date of the merger is January 1, 2022. The planned Effective Date may change, and the actual Effective Date may be earlier or later than the above-mentioned date.

Info about companies

Virtual news conference

More information

These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase the securities described in such materials in the United States. In particular, any securities referred to in these materials have not been and will not be registered under the U.S. Securities Act of 1933 (the “Securities Act”), or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of securities in the United States.

You need to enable JavaScript in your browser to access this page.