Davidson Kempner to acquire a 49.99% stake in Nynas from Bitumina Industries.

Davidson Kempner, a global institutional investment management firm, agreed to acquire a 49.99% stake in Nynas, a Swedish manufacturer of specialty naphthenic oils and bitumen products, from Bitumina Industries, a global bitumen company. Financial terms were not disclosed. "We welcome Davidson Kempner as a shareholder in Nynas and look forward to the continued development of Nynas’ business with the strategic and strong financial backing that Davidson Kempner will contribute. We are very satisfied with our strong trading result in the first half of 2021 and will continue to pursue our mission to deliver long lasting, high performance specialty products for sustainable use in our industry with the support of Davidson Kempner, who already is one of the largest financiers of the company," Bo Askvik, Nynas President and CEO.