The Cabinet Committee on Economic Policy supports today the proposal by the Ministry of Trade and Industry to the Cabinet in order to seek parliamentary approval to eliminate the miminum level of state ownership in Kemira Oyj from the current level of 33.3 per cent to zero.
The proposal of the Ministry does not include any plan or time schedule for the reduction of state ownership.
Kemira regards the delevelopment as a logical continuation to the Ministry's previously communicated policy that confirms that the Finnish State does not consider there to be any national or other strategic reasons for state ownership of Kemira shares. The Kemira Group trusts that the lowering state holding would increase share liquidity and facilitate the use of shares as currency in acquisitions or other arrangements. The potential for such developments will be further enhanced by the elimination of the minimum level of state ownership.