EY Corporate Finance advisor in divestment of Outokumpu Long Products AB

Outokumpu Oyj, one of the global leaders in the stainless steel industry, has on 1 April announced the divestment of its remaining Long Products operations in Sweden to Italian Cogne Acciai Speciali

Outokumpu Oyj divested the majority of its Long Products business at the beginning of the year. Outokumpu Long Products AB’s units in Degerfors and Storfors in Sweden were not part of the deal and continued their operations as part of the Group, while Outokumpu evaluated different options for the future of the units. Outokumpu has signed an agreement to divest these operations in Degerfors and Storfors to Cogne Acciai Speciali, a world leader in the production of long stainless steels and nickel alloys based in Italy.

The divestment is a further natural step for Outokumpu Oyj in line with their strategy to focus purely on their core business, stainless steel flat products and ferrochrome. Outokumpu expects to complete the divestment in a couple of months. The completion of the transaction is subject to customary closing conditions and regulatory approvals by the competition authorities. The transaction will be carried out as a share sale. Outokumpu's other operations in Degerfors are not affected by the divestment.

More information can be found on Outokumpu's press release.

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