Neste announced today that it has sold its entire shareholding in Nynas to Bitumina. This is an important step in the ongoing company reorganisation of Nynas, Swedish transformer oil manufacturer.
As a result of the ownership changes, Bitumina 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 ownership change announced today 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.
