Government-owned investor Solidium is selling its remaining 15% holding in Sponda to Finnish investor group Oy Palsk for around EUR 148 mln, reflecting a capital gain before tax of EUR 71 mln.

Government-owned investor Solidium is selling its remaining 15% holding in Sponda to Finnish investor group Oy Palsk for around EUR 148 mln, reflecting a capital gain before tax of EUR 71 mln.

The owners of Oy Palsk are institutional investors Föreningen Konstsamfundet, Sigrid Juséliuksen Säätiö, Stiftelsen för Åbo Akademi, Veritas Pension Insurance Company and Svenska litteratursällskapet i Finland.

'The disposal of all our remaining shares in Sponda is a natural continuation to our executed disposal two years ago when we decreased our holding from 34% to 15%. We were now offered an opportunity to sell the shares at a premium to the current share price and through this transaction we execute our company-specific ownership strategy. We are very satisfied that Sponda's ownership remains strongly in Finland even after these transactions,' said Solidium's managing director Kari Järvinen.

Prior to the disposal Solidium owned 42 million shares in Sponda.The sale price is 14% higher than the weighted average price in the last six months.