Nordic Business Report-May 18, 2006-Rautaruukki Corporation receives approval for acquisition of Russian steel constructor
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Finnish value-added steel manufacturer Rautaruukki Corporation, also known as Ruukki, said on Thursday (18 May) that it had received the approval of competition authorities for its purchase of Russian steel constructor OOO Ventall.
Ventall had net sales of some EUR70m and an operating profit of EUR15.5m in 2005. The company has approximately 1,238 employees.
The price for the shares was previously valued at EUR97.5m.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
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