Dynapac, Metso Corp. signed an agreement to divest the business to the Nordic private equity investor Altor for approximately $326 million on a debt-free basis. The divestiture of Dynapac will be completed after the relevant regulatory approvals.
The final price of the divestment will be based on the net asset value at the closing date. The divestment will have a significant positive effect on Metso's gearing, which will decrease by approximately 26 percentage points.
“The divestiture of Dynapac implements Metso's strategy, strengthens considerably Metso's balance sheet and gives us better opportunities to concentrate on improving our operational excellence,” says Jorma Eloranta, president and CEO of Metso Corp.
Dynapac has seven manufacturing plants, located in Sweden, Germany, France, Brazil and China. In addition, the company operates in more than 50 countries. Dynapac became part of Metso Corp. in 2001, as a result of its acquisition of Svedala. Dynapac has been operating as an independent business with relatively limited synergies with the other businesses within Metso Minerals.
