The consortium - which in addition to Wallenberg Investments also includes Temasek and IMAS - will take "a leading ownership position in Stegra," according to the agreement in principle, Stegra writes.
Venture capital company Altor will become the second-largest owner when the transaction of 1.4 billion euros is completed.
This shows that there are customers who want the green steel and are prepared to pay for it, says Henriksson.
He points out that a “number of formalities” need to be put in place, including credit decisions and documentation processes.
“Everything in one place”
Once the financing is in place, the new major owners in Stegra intend to nominate former Volvo CEO and Ericsson chairman Leif Johansson - who works as an advisor to the Wallenberg-led consortium - as chairman of Stegra's board.
Johansson calls Stegra's steel mill in Boden a "unique project."
"The wonderful thing about doing everything in Boden is that everything is in one place," he says at the press conference.
However, he highlights that work remains.
As an industrialist, you get a little sad if you come up to Boden now, because there is a half-finished steel mill that is running at perhaps a quarter of the speed it should be running, he says.
Stegra's current chairman Shaun Kingsbury is proposed to remain a board member.
Support from lenders
The transaction is also supported by Stegra's lenders "subject to credit approvals."
The new capital will go to finance the completion of the steel factory in Boden as well as "certain infrastructure components under our own management."
"After a period of lower activity during the financing round, Stegra will now increase the pace of construction. The project's schedule is currently under review," Stegra writes in a press release.
According to Minister of Energy and Enterprise Ebba Busch (KD), today's announcement about funding for Stegra is positive news for Swedish industry.
It is in everyone's interest that this succeeds and it is a statement of strength that new, healthy capital is choosing to enter, says Busch.
