Ruukki Group Plc, Stock Exchange Release, 23 June 2008 at 09:23 a.m.
Ruukki Group has entered into an agreement to sell all the shares of Mikeva Oy,
the parent company of its Care Services business, to DF-Care Oy that is owned by
a fund owned by Intera Equity Partners. The sale price of the shares is
approximately EUR 13 million and the expected gain on disposal about EUR 6
million. The final sale price depends, inter alia, on the amount of net debt on
the Mikeva group's consolidated balance sheet at the date of ownership transfer.
The closing of the transaction is assumed to be finalised in the beginning of
July. Hence, the Care Services business is expected to be consolidated into
Ruukki Group up until the end of June.
The Care Services segment accounted for about 8 % of Ruukki Group's
January-March 2008 consolidated revenue. The share transaction now agreed
relates to the Group's ongoing strategic reposition, according to which group
operations are focused on the one hand to various wood processing operations,
and new opportunities are sought after for expansion into minerals business, in
the first phase to ferro chrome markets, on the other hand.
RUUKKI GROUP PLC
MATTI VIKKULA
CHIEF EXECUTIVE OFFICER
Ruukki Group Plc's shares are listed on OMX Nordic Exchange Helsinki in which
the shares of the Company are traded in the mid cap segment, in the industrials
sector.
For additional information, please contact:
Matti Vikkula
Chief Executive Officer
Ruukki Group Plc
Tel. + 358 45 6700 606
www.ruukkigroup.fi
This stock exchange release is based on a translation into English of a document
written in Finnish. In case of any discrepancies, inconsistencies or
inaccuracies, the Finnish version of the release shall prevail.