NOKIA, Finland (May 6, 2013) — Bridgestone Europe N.V. will transfer its 5-percent stake in Nokian Tyres P.L.C. to parent Bridgstone Corp. on May 7, consolidating Bridgestone's 15.2-percent ownership in Nokian with the parent company, according to Nokian.
The Finnish tire maker disclosed the transaction under provisions of Chapter 2, Section 10 of Finland's Securities Market Act.
Nokian said it had been notified by Bridgestone Europe of the move. Bridgestone has owned a stake in Nokian since 2003.
As a consequence of the shareholding, Benoit Raulin, managing director of Bridgestonie France-Benelux, has a seat on Nokian's board of directors.