Solidium Oy, has purchased all of Outokumpu’s shares in Talvivaara Mining Company Plc. The company has sold 10,522,366 shares to Solidium Oy which amounts to 4.3% of total shares in Talvivaara Mining Company Plc. The transaction is valued at EUR 60 million. Outokumpu has also sold one fifth of its 20% holding in Talvivaara Sotkamo Limited to Talvivaara Mining Company Plc. This transaction is valued at EUR 60 million. Outokumpu has also granted an option to Talvivaara Mining Company Plc to purchase the remaining 16% ownership in Talvivaara Sotkamo Ltd. The option can be executed at the same price per share entirely or partially and in one or several installments; it is available until the end of the first quarter of 2012. If fully exercised, this transaction would be valued at EUR 240 million. Following the change in ownership, Outokumpu will no longer have a major influence in Talvivaara Sotkamo Limited and therefore the remaining 16% holding, will be classified as a financial asset valued at fair value through profit and loss on Outokumpu’s financial statements. Outokumpu will record a capital gain of EUR 178 million as financial income in its second quarter 2011 accounts as a result of the sale of shares in Talvivaara Sotkamo Limited and the fair value accounting of the remaining shares.
