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Ahlstrom completes the divestment of its Home and Personal business area

Oct 21 2011  Ahlstrom Corporation and Suominen Corporation have confirmed the closing of the divestment of Ahlstrom's wipes fabrics, the Home and Personal business area, to Suominen. The business will be transferred on October 31, except for the Brazilian part of the business, which is estimated to be transferred in the first quarter of 2012.

The transaction was signed on August 4, and the total value of the transaction is approximately 170 million Euros. Following the transaction, Ahlstrom becomes the largest shareholder in Suominen with a 27.1 percent stake. Ahlstrom has committed not to decrease its ownership in Suominen below 20 percent during a period of maximum two years. In line with Ahlstrom's strategy, the divestment will steer the company towards a more focused business and product portfolio, Ahlstrom writes in a press release.The competition authorities in Spain, Germany and USA have approved the transaction. The approval from the competition authorities in Brazil is expected to be received in the first quarter of 2012 and is not a prerequisite for completing the transaction. /KB

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