Dovre Group, which applied for corporate restructuring, sold its share in the Pyhäsalmi project company

For corporate restructuring applied for Dovre Group and Sustainable Energy Solutions Sweden Holding have agreed to sell their shares related to the development of the Pyhäsalmi municipality’s battery warehouse project.

According to Dovre Group’s press release, the buyer is Prime Capital AG:n fund. Dovre’s share of the project company was 45 percent.

“The project has reached construction readiness at the end of 2025, and thus selling it for implementation became timely,” the Dovre Group press release reads.

Dovre Group’s share of the purchase price at the time of closing is estimated at 2.1 million euros.

Dovre Group announced at the beginning of the year that it was insolvent. According to the release, the deal will not change this situation.

Dovre Kauppa does not change its previous assessment of the company’s insolvency or the fact that the company is investigating the possibility of submitting a corporate restructuring application.

Corporate restructuring is a measure approved by the court, the purpose of which is to organize the payment of the company’s debts and avoid bankruptcy.

In restructuring, a program is drawn up for the company, which determines how the company’s operations should be changed and the debts arranged.