07:00 London, 09:00 Helsinki, 31 January 2011 - Ruukki Group Plc, Stock Exchange Release
RUUKKI GROUP SIGNS LETTER OF INTENT TO SELL FINNISH SAWMILL BUSINESS
Ruukki Group Plc (“Ruukki” or the “Company”) (LSE: RKKI, OMX: RUG1V) is pleased to announce it has signed a letter of intent to sell its 51 percent holding in Junnikkala Oy to Junnikkala Oy’s minority shareholders for a total consideration of EUR 6 million. The signing of the definitive agreements is subject to a number of conditions, including the availability of financing and certain corporate approvals including those required for a related party transaction. Ruukki anticipates that the signing of the definitive agreements will take place by the end of March 2011.
As previously disclosed, and following the disposal of the house building business, Ruukki has been evaluating alternative structures for reorganising its wood processing assets including its sawmill business. Ruukki has concluded that the sawmill business is no longer a core business.
RUUKKI GROUP PLC
Danko Koncar
Acting Managing Director
For additional information, please contact:
Ruukki Group Plc
Markus Kivimäki, Head of Corporate Affairs, +358 50 3495 687, markus.kivimaki@ruukkigroup.fi
Thomas Hoyer, CFO, +358 45 6700 491, thomas.hoyer@ruukkigroup.fi
Investec Bank Plc
Stephen Cooper, +44 20 7597 5104, stephen.cooper@investec.com
RBC Capital Markets
Martin Eales, +44 (0)20 7653 4000, martin.eales@rbccm.com
Peter Barrett-Lennard, +44 (0)20 7653 4000, peter.barrett-lennard@rbccm.com
Ruukki Group is a natural resources company, with a mining and minerals business in southern Europe and South Africa and a wood processing business in Finland. The Company is listed on NASDAQ OMX Helsinki (RUG1V) and the Main Market of the London Stock Exchange (RKKI).
www.ruukkigroup.fi