Finland divests 5% for $1 billion of Neste to take advantage of bull run

June 13, 2018 |

In Finland, Reuters reports that the government’s stake in Neste fell to 44.7 percent after selling 5 percent of the company for around $1 billion, prompting criticism from the opposition for dropping below the majority shareholding level. The government said it wanted to take profits following a recent rally before losing out on the opportunity to cash out. The government says it doesn’t plan to divest further despite a law approved last year allowing it to fall to 33.4%.

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