Nordic Business Report-April 28, 2006-Metso Corporation and Aker Kvaerner ASA sign final purchase agreement
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Finnish process industry machinery and systems supplier Metso Corporation said on Friday (28 April) that it had signed the final purchase agreement with the Norwegian engineering, construction and technology group Aker Kvaerner ASA for the acquisition of Aker Kvaerner's Pulping and Power business.
Metso estimates that the transaction could be finalised and the business transferred to its ownership during the second half of 2006.
The agreed cash and interest-bearing debt-free acquisition price is some EUR335m.
The final transaction value will be based on the balance sheet at the time of the closing.
Metso's gearing will increase by less than 30% due to the acquisition, the company said.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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