Nynas AB confirms that the transaction involving the sale of a 49.9% shareholding in Nynas between Bitumina Industries Limited (in administration) and an investment vehicle managed by Davidson Kempner Capital Management LP together with its affiliates and affiliated investment vehicles (“Davidson Kempner”) has been completed.
Davidson Kempner is now the largest individual shareholder in Nynas after all necessary formalities have been completed. The binding agreement for the acquisition of the shares from the administrators of Bitumina was announced on July 26, 2021. At an Extraordinary General Meeting in Nynas AB on August 16, 2021, Davidson Kempner appointed three new members of the Board of Directors to represent the company.
“Davidson Kempner is a financially stable and knowledgeable owner who is already involved in Nynas as a major financier and knows Nynas role in the marketplace. It is important for our employees, customers and suppliers that Nynas has an owner with the financial capacity and ambition to support the company”, said Bo Askvik, Nynas President and CEO.
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