Wärtsilä consolidates Indian subsidiary

2 July 2002 – Wärtsilä Corporation said today that it had increased its stake in its Indian subsidiary to 88.3 per cent following a public offer to minority shareholders of WärtsiläIndia Ltd.

The offer was made on 16 April 2002 to acquire 1 834 258 shares and expired on 25 June 2002. During the offer period 425 492 shares were acquired, corresponding to 3.5 per cent of the total shares. The acquisition cost was approximately $1m.

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