Arbitration award in the redemption proceedings concerning the minority shares in Ahlstrom-Munksjö Oyj


The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has on February 25, 2022 rendered its decision in the redemption proceedings concerning the minority shares in Ahlstrom-Munksjö Oyj (“Ahlstrom-Munksjö”). The arbitral tribunal has rendered a decision according to which Ahlstrom-Munksjö Holding 3 Oy's (formerly called Spa Holdings 3 Oy) right to redeem the minority shares in Ahlstrom-Munksjö is confirmed and the redemption price payable by Ahlstrom-Munksjö Holding 3 Oy for the 10,755,918 Ahlstrom-Munksjö minority shares that are subject to mandatory redemption shall be EUR 21.55 per share.

The redemption price awarded by the arbitral tribunal represents an aggregate payment liability for Ahlstrom-Munksjö Holding 3 Oy of approximately EUR 231.8 million. This is EUR 39.9 million in excess of the EUR 191.9 million redemption liability that has already been recognized by Ahlstrom-Munksjö Holding 3 Oy in its Q3/2021 interim financial report.

The decision by the arbitral tribunal may be appealed within 60 days from the registration of the arbitration award.

Ahlstrom-Munksjö Holding 3 Oy has completed the tender offer that was initially announced in September 2020 and, by a decision of the arbitral tribunal, gained title to all shares in Ahlstrom-Munksjö on 23 June 2021, in accordance with Chapter 18, Section 6 of the Finnish Companies Act.

The shares in Ahlstrom-Munksjö were delisted as of May 31, 2021, from the official list of Nasdaq Stockholm, and as of June 23, 2021, from the official list of Nasdaq Helsinki.


Additional information:

Johan Lindh, Vice President, Group Investor Relations, + 358 10 888 4994,


Ahlstrom-Munksjö in brief
Ahlstrom-Munksjö is a global leader in fiber-based materials, supplying innovative and sustainable solutions to its customers. Our mission is to expand the role of fiber-based solutions for sustainable everyday life. Our offering includes filter materials, release liners, food and beverage processing materials, decor papers, abrasive and tape backings, electrotechnical paper, glass fiber materials, medical fiber materials, diagnostics and energy storage solutions, as well as a range of specialty papers for industrial and consumer end-uses. Our annual net sales in 2020 was about EUR 2.7 billion and we currently employ some 8,000 people. Read more at