DNA’s fourth largest shareholder divests stake

11 Oct 2013

Finnish alternative telco DNA Finland has revealed that its fourth largest shareholder, KPY Sijoitus Oy, has signed an agreement to sell its holding in the operator to Finda Oy and PHP Holding Oy. Prior to the transaction, KPY Sijoitus Oy owned 1,099,596 DNA shares, representing a 12.97% stake, and as per the sale agreement this holding will be split evenly between the two companies acquiring the shares.

Finda Oy is already the largest shareholder in DNA, and following the purchase of 549,798 additional shares at EUR93.70 (USD126.9) per share its stake in the operator will increase to 39.05%. Meanwhile, PHP Holding Oy will control 26.24% of DNA’s total shareholding once the deal is complete. The total value of the transaction is EUR103.0 million.

Aside from the Finda Oy and PHP Holding Oy, the next largest DNA shareholders are Oulu ICT Oy, which holds a 22.17% stake, and Ilmarinen Mutual Pension Insurance Company (5.01%).

Finland, DNA Finland