FINLAND - Two large pension insurance companies have become major investors in chemicals group, Kemira Oyj, after the state sold its shares in the firm.
When the state of Finland sold its 32.1% stake in Kemira Oyj, at a total sum of €655.6 million, the shares were quickly snapped up by Varma Mutual Pension Insurance Company which bought 8%, and Ilmarinen Mutual Pension Insurance Company which aquired 3.6%.
Jyri Häkämies, minister responsible for ownership steering of state-owned companies, said: “The government carries out an active market-oriented ownership policy. The development potential of the companies and their ownership base is evaluated continuously and the state always takes the overall effect of sales of shares into account. The state still remains a significant owner of Kemira.”
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