Valmet to acquire a 14.9% stake in Neles from Solidium for $209m.

Valmet, a developer and supplier of technologies, agreed to acquire a 14.9% stake in Neles, a provider of flow control solutions and services, from Solidium, a state-owned investment company, for $209m. "Neles is a good quality global company with a large share of recurring business and a strong position in the pulp and paper industry. It has demonstrated good growth and has potential to grow further. We have today agreed to acquire a minority share in Neles and our target is to increase our ownership when Neles’ share price supports additional purchases. Valmet’s goal is to have an active long-term role in the development of Neles. The strategic rationale of the share acquisition is further supported by the fact that Valmet and Neles have a common heritage, serve similar global industries and benefit from same global megatrends," Pasi Laine, Valmet President and CEO.