Metso receives EC clearance for Outotec merger

Finland-based equipment maker Metso Corp. says it has received unconditional merger control clearance from the European Commission (EC) for its corporate combination with fellow Finnish company Outotec, which is a designer and builder of minerals processing and metals refining systems.

The terms of the merger agreement call for Metso shareholders to own 78 percent of the combined company. Another term of the agreement will see Metso spinning off its Neles flow control equipment line into a separately listed company.

Metso and Outotec says the two companies also have received unconditional clearances also from the competition authorities of “a number of other jurisdictions, including Canada, Chile and Turkey.”

Metso and Outotec say they expect the merger to be completed on June 30, 2020, “subject to the receipt of all required regulatory and other approvals, including certain remaining competition clearances.”