The Finnish State announced on 1 September that it will become the majority owner of Valmet Automotive Plc, an automotive contract manufacturer. As part of the ownership and financing arrangements, Finnish Minerals Group (FMG), wholly owned by the State, will become the majority owner of IONCOR Oy, which engineers and manufactures battery solutions and has operated as a subsidiary of Valmet Automotive.
Sisu Partners advised Finnish Minerals Group in the transaction.