Government proposes reducing minimum holdings threshold in Neste Corporation and Vapo Oy to one third

The Government will submit a proposal to Parliament to reduce the minimum holdings threshold in Neste Corporation and Vapo Oy from the current 50.1% to 33.4% in the first supplementary budget proposal for 2017. This would allow the Government to transfer shares exceeding the 33.4% limit to the State Business Development Company (Vake Oy), which is a company wholly owned by the State, as outlined in the 2016 Government Resolution on Ownership Policy.

The Government plans to submit the proposal to Parliament on Wednesday 24 May. The supplementary budget will become effective on 1 July 2017. The State owns 50.1% of Neste Corporation and 50.1% of Vapo Oy.

Inquiries: Eero Heliövaara, Director General, Prime Minister's Office, tel. tel. +358 295 160 150, email: eero.heliovaara(at)vnk.fi