Outokumpu has sold its 15% holding in Tibnor AB, a Nordic distributor of steel and metals, to SSAB. SSAB currently owns an 85% stake in Tibnor and will pay EUR 44 million in cash to acquire Outokumpu’s minority stake making it the full owner of the company. Outokumpu will book a tax-free capital gain of EUR 36 million as financial income in the Group’s second quarter accounts. The transaction will have a minor impact on Outokumpu’s gearing as a result of the fair-value accounting of this holding on Outokumpu’s balance sheet. SSAB views Tibnor as a major channel in their quest to reach customers in the Nordic domestic market.
