Outokumpu divests stainless steel mill in Terni

Avance advises Solidium (company fully owned by the State of Finland) in relation to a series of measures whereby Outokumpu strengthens its balance sheet, stabilizes its shareholder structure and divests its stainless steel mill in Terni and the VDM business to ThyssenKrupp. In connection with the arrangement, ThyssenKrupp divests its shareholding in Outokumpu. Solidium acquires a part of such shares becoming the largest shareholder in Outokumpu with 29.9 % ownership and commits to take part in the planned EUR 650 million rights issue.