Pöyry has sold all of its shares in Korea District Heating Engineering Co Ltd Ltd (KDHEC), an engineering and consulting services company based in Seoul, South Korea. All shares held by Pöyry Finland Oy, amounting to 50% of shares in the company, have been sold to KEPS Calista Private Equity Fund. Calista is a wholly owned subsidiary of KEPS Co Ltd, a Korean energy engineering consulting company.
The transaction is in direct alignment with Pöyry's focused strategy, where Pöyry is developing its services in key domestic markets, as well as strengthening its global competences in energy, industry and management consulting.
The Parties have agreed not to disclose the transaction price.
The company records a gain on sale of approximately 6 million euros, which is included in financial income and expenses.
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).