Wärtsilä and Metso have received the relevant regulatory approvals from the European Commission for the transaction whereby Wärtsilä sells its share in MW Power to Metso. The transaction between the two companies has now been closed.
According to the agreement published on May 31, 2012, Wärtsilä will sell its forty per cent share in the joint venture MW Power Oy, to the other joint venture party Metso. Metso will thus acquire full ownership of MW Power. The value of the agreement is not disclosed.
Wärtsilä and Metso signed a contract in September 2008 to form the MW Power Oy joint venture, which combined Metso’s Heat & Power business and Wärtsilä’s Biopower business.
