26.09.2013

Hartwall reduces Cramo stake

The Hartwall family, one of the largest investors in Finnish international rental company Cramo, has sold an 11 percent stake in the business. Hartwall Capital acquired its stake in Cramo in 2009 and has owned a 10.9 percent stake in Konecranes since 2010.

The Hartwell family companies sold a total of 4,645,479 Cramo shares, representing around 10.9 percent of the outstanding equity to a number of different Finnish and international investors.

After the sale companies controlled by the Hartwall family still hold a further 11.5 percent of Cramo and are now subject to a 90 day lock before selling any more shares.

Hartwall Capital is a family owned investment business formed from the mineral water and soft drink bottler Hartwall which was founded by Victor Hartwall in 1836 and later became a major brewer. Having sold all its brewing and bottling interests in 2009 it has recently re-entered the market by acquiring 9.1 percent of Royal Unibrew.