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PPM sells pulp chemicals producer Finnish Chemicals Oy to Kemira Oyj

A PPM Ventures-led syndicate of investors has agreed to sell pulp chemicals producer Finnish Chemicals Oy to Kemira Oyj, an international chemicals business with headquarters in Finland, for E345m. The transaction is subject to regulatory approvals.

PPM, together with Montagu Private Equity and MB Funds, acquired Finnish Chemicals from Nokia and UPM Kymmene in 1996.

Neil MacDougall, managing director of PPM and a member of the Finnish Chemicals' Board since 1996, said, 'The realisation of Finnish Chemicals through a sale to Kemira Oyj illustrates PPM's consistent strategy of supporting the development of portfolio companies and securing an exit at the appropriate time for the benefit of all investors.'

PPM Ventures, the private equity arm of financial services group Prudential, invests on behalf of the Prudential's UK Life Fund. In addition, the firm also has a number of other third party clients.

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