CapMan Press Release 14 June 2011 at 10.10 a.m. EET

Moventas’ situation will not impact CapMan’s result

Moventas Oy, in which various funds managed by CapMan have retained a 13.6% minority holding after their exit from the company in 2007, will file today its operational subsidiaries for corporate restructuring while the company’s administrative parent company has filed for bankruptcy. This will not impact CapMan’s result this year, as the value of funds’ investments in the company had already been written down. It will also not affect CapMan’s projected timetable as to when the CapMan Equity VII A, B, and Sweden funds will transfer to carry. On the whole, CapMan’s investment in Moventas proved very successful for the investors in the CapMan funds concerned.

Moventas’ subsidiaries – Moventas Wind Oy and Moventas Santasalo Oy – will be filed for corporate restructuring, while the administrative parent company, Moventas Oy, has filed for bankruptcy following the unsuccessful financing negotiations. The CapMan Equity VII A, B, and Sweden funds managed by CapMan invested in Moventas in April 2005 when they acquired Metso Drives from Metso Corporation. The funds sold a majority holding in the company to IK Investment Partners in 2007.

Further information:
Niko Haavisto, CFO, CapMan Plc, tel. +358 207 207 583

CapMan www.capman.com
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.4 billion. CapMan has four key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 140 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.