JPM, Nordea underwrite stainless merger
JP Morgan and Nordea have provided the underwriting for a €1bn rights issue for steel firm Outokumpu as it merges with ThyssenKrupp’s Inoxum unit.
The deal also has support from key Outokumpu shareholders. Finlands state-owned investment fund Solidium, which owns 30.8% has committed to taking up its pro-rata entitlement, subject to final terms. The Social Insurance Institution of Finland (KELA) and Ilmarinen Mutual Pension Insurance have committed to another 6.8% of the
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