Arbitral tribunal appointed for the arbitration proceedings concerning the redemption of the minority shares in Tikkurila Oyj
Stock exchange release
August 18, 2021 at 12.10 p.m. EEST
As previously announced, PPG Finland Oy has on 11 June 2021 commenced mandatory redemption proceedings in respect of Tikkurila Oyj’s (“Tikkurila” or the “Company”) minority shares by applying for arbitration proceedings to be initiated in accordance with Chapter 18, Section 4 of the Finnish Companies Act in order to obtain ownership of all the issued and outstanding shares in Tikkurila.
The Company has today been informed that the Redemption Board of the Finland Chamber of Commerce has appointed an arbitral tribunal consisting of three members for the arbitration proceedings concerning the redemption of the minority shares in Tikkurila. The arbitral tribunal consists of professor Kari Hoppu (chair), attorney-at-law Gisela Knuts and professor Seppo Villa.
Nasdaq Helsinki Ltd
Main news media
For further information, please contact:
Sanna Lehti, General Counsel
tel. +358 40 511 1757
Tikkurila offers decorative paints for consumers and professionals for surface protection and decoration. In addition, the Company produces paints and coatings for the metal and wood industries.
Tikkurila’s business highlights high-quality and long-term product development and considerable marketing investments. The Company’s brands include, among others, Tikkurila, Beckers, Alcro, Teks, and Vivacolor. Tikkurila uses the Beckers brand only in its decorative paints in Scandinavian countries as well as in some parts of Eastern Europe under a license from Aktiebolaget Wilh. Becker, obtained in conjunction with its acquisition of Alcro-Beckers AB in 2001. Important factors in the Company’s operations include a functioning and extensive distribution network, diverse services and an efficient supply chain. Tikkurila has seven (7) production facilities in six (6) countries and around two thousand four hundred (2,400) employees. Tikkurila’s products are available in more than forty (40) countries. Further information about Tikkurila may be found from the following website www.tikkurilagroup.com.
Tikkurila is a leading Nordic paint company with expertise that spans decades. We develop premium products and services that provide our customers with quality that will stand the test of time and weather. We operate in seven countries and our 2,700 dedicated professionals share the joy of building a vivid future through surfaces that make a difference. In 2018, our revenue totaled EUR 562 million. The company is listed on Nasdaq Helsinki.
Nordic quality from start to finish since 1862.