Outotec Oyj has received the necessary approvals from the competition authorities to proceed with the acquisition of Larox Corp. Outotec will complete the share transactions with certain main shareholders of Larox to acquire control in Larox through directed share issue on 21 December 2009. Larox will upon the completion of the Share Transactions become a subsidiary of Outotec. Outotec will also make mandatory public tender offer for the remaining Larox shares. The management of Outotec has started the planning of a new, more efficient and flexible business structure and operating model for Outotec along with the planning of Larox’ integration, so that the new business structure and operating model could be implemented in the spring of 2010. Outotec also intends to request the Board of Directors of Larox to convene an extraordinary general meeting to decide upon the future composition of the Board of Directors. Following the completion of the share transactions, Outotec will commence the mandatory public tender offer for all the remaining Larox series A and B shares. The Tender Offer will also include all the unused subscription rights relating to the 1994 bonus issue by Larox. The acceptance period under the Tender Offer is expected to commence on or about 28 December 2009 and to end on or about 22 January 2010, unless the offer period is extended.
