First publishedon www.AggBusiness.com
The Finnish Financial Supervisory Authority (FSA) has approved the planned merger of Metso
The two companies announced that financial regulator the FSA has given its approval to the Finnish language demerger prospectus relating to the combination of Outotec and Metso's minerals business.
Outotec and Metso announced on July 4 this year that their respective boards had approved a combination agreement and a demerger plan.
The combined company will be named Metso Outotec and the merger will create a leading global company in process technology, equipment and services serving the aggregates, minerals and metals industries.
It will comprise Metso Minerals and Outotec but exclude Metso Flow Control and is set to launch in the second quarter of 2020. Metso Flow Control will be a pure-play listed entity under the name of Neles.
The boards of Metso and Outotec have both announced extraordinary general meetings of their shareholders on October 29 to approve the merger plan.
Shares in Metso Outotec are intended to be listed on the Nasdaq Helsinki pending the shareholder approval, the statutory creditor hearing process and receipt of all required regulatory and other approvals, including competition clearances.