White & Case LLP is advising Metso Corporation, a leading minerals processing and flow control technology and services supplier for the mining, oil and gas and aggregates industries, on the sale of its Process Automation Systems (PAS) business to Valmet Corporation. The enterprise value of the transaction is €340 million.
"This transaction is an important milestone for Metso in implementing its new business strategy," said Helsinki-based White & Case partner Petri Haussila, who is leading the team advising on the transaction. "This representation is part of our longstanding relationship with Metso that most recently included representing the company on the partial demerger that created Valmet as an independent public company."
Metso's sale of the PAS business is part of a new strategy announced in July 2014, under which it will focus on products and services for the mining, oil and gas and aggregates industries.
The PAS business is the market leader in process automation solutions for the pulp, paper and power industries, including automation and quality control systems, analyzers and measurements and related services.
The White & Case team was led by partner Petri Haussila. He was assisted by partners Janko Lindros and Petri Avikainen and associates Alli Soralahti, Aatos Solhagen and Maria Fagerstrom-Ryder in Helsinki; partner Pontus Lindfelt and associate Sophie Sahlin in Brussels; partner Pieta Menon and associate Laura Hoyland in London; partner Vivian Tsoi and senior legal consultant Xi Zhang in Beijing; counsel Valérie Menard and associate Sophie Nguyen in Paris; partner Stefan Koch and associate Jan Ole Eichstaedt in Frankfurt; partner Jun Usami and associate Shino Asayama in Tokyo; local partner Aneta Hajska and associate Katarzyna Kahl in Warsaw; associates Jiutuo Sun and Ekaterina Palagina in Moscow; partner Joz Coetzer and associate Anneen de Jay in Johannesburg; partner Meltem Akol and associate Lara Sezerler in Istanbul; partner Robert Chung and associate Cara Bilotta in New York; partner Iacopo Canino and associate Miriam Morbelli in Milan; and partner Jonathan D. Olier and associate Bella Khabbaz in Singapore.
