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 have on July 2, 2021, signed a combination agreement and merger plan to combine the two companies through a merger. 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.

  • 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 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 combination is subject to, among other items, approval by a majority of two-thirds of the votes cast and shares represented at the respective Extraordinary General Meetings of Valmet and Neles, and the obtaining of merger control and other regulatory approvals. The completion is expected to occur on or about January 1, 2022, subject to all conditions for completion being fulfilled.

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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.

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