Marangoni

By TT News| Sep 16, 2020

Bitumina becomes the largest stakeholder in Nynas

Neste, a Finnish oil refiner, has sold its entire shareholding in Nynas to Bitumina, a global bitumen company active in more than 100 countries.

Nynas said this is an important step in the ongoing company reorganisation of Nynas.

With this change, Bitumina Industries Ltd is now the largest shareholder in Nynas AB, holding 50 percent of the shares. Nynässtiftelsen owns 35 percent and PdVSA 15 percent of the shares in Nynas AB (rounded numbers).

The company said the ownership change announced is an important step in the ongoing company reorganisation of Nynas. To successfully complete the reorganisation, discussions continue with Nynas main creditors.

Nynas has applied for an extension of the company reorganisation and a court decision is expected on September 17. Nynas and the Administrators expect to complete the reorganisation within the coming three-month period.

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