ÅF extends the offer period for Pöyry shares

Swedish firm ÅF is set to acquire the Finnish rival Pöyry in a €611m deal and merge the two entities into a leading European industrial consultancy and engineering company.

ÅF AB had launched a recommended public cash tender offer for all issued and outstanding shares in Pöyry Plc on 20 December 2018. The offer period was originally scheduled to expire on 31 January 2019, but had to be extended until mid-February as the deal is awaiting approval from Russia's Federal Antimonopoly Service, the two companies announced.

The combined company would operate under the united brand ÅF-Pöyry and, considering the companies' results for the twelve months ended 30 September 2018, generate pro-forma annual sales of approximately SEK19bn, ÅF and Pöyry announced. ÅF's President and CEO Jonas Gustavsson would serve as President and CEO of the combined company.

Find the full article in EUWID Pulp and Paper issue no 6/2019, which will be available to our e-paper and print subscribers as of 6 February.