24 Jun 2024
Picture of Productivity Improvement of Weld

EY advises Outokumpu in divesting Mexican branch distribution business

Authors
Ollipekka Kotkajuuri

Associate Partner, Strategy and Transactions, Corporate Finance, EY Finland

Experienced transaction professional and Certified Adviser in Nasdaq First North Growth Market. Sports enthusiast, global citizen and a friend of good food.

Mikko Tuoma

Senior Manager, Corporate Finance, Strategy and Transactions, EY Finland

M&A professional excited about finding the best solutions for our clients. Work experience from Finland and Indonesia. Enjoys travelling, exploring new cultures and sports.

24 Jun 2024

Outokumpu Oyj (“Outokumpu”), one of the global leaders in the stainless steel industry, has on 24 June announced the divestment of its branch distribution business in Mexico to Prominox, the largest stainless steel distributor in Mexico

Outokumpu expects to complete the divestment within the next several weeks. The transaction will be carried out as an asset sale, where Prominox acquires the ongoing branch distribution business operations and related customer base.

The divestment is a natural step for Outokumpu in line with their strategy to dedicate more resources to the strategic areas of the Americas (Mexico and U.S.). Outokumpu's other operations in Mexico are not affected by the divestment. Financial terms of the transaction were not disclosed.

EY supported Outokumpu in the transaction with a cross-border deal team comprising professionals from Mexico and Finland. More information can be found on Outokumpu’s press release.

Summary

EY Corporate Finance acted as the exclusive financial advisor to Outokumpu in the transaction and provided support with a cross-border deal team comprising professionals from Mexico and Finland.

About this article

Authors
Ollipekka Kotkajuuri

Associate Partner, Strategy and Transactions, Corporate Finance, EY Finland

Experienced transaction professional and Certified Adviser in Nasdaq First North Growth Market. Sports enthusiast, global citizen and a friend of good food.

Mikko Tuoma

Senior Manager, Corporate Finance, Strategy and Transactions, EY Finland

M&A professional excited about finding the best solutions for our clients. Work experience from Finland and Indonesia. Enjoys travelling, exploring new cultures and sports.