Changes in group companies structure in Estonia Ta
Post# of 301275
Tallinn, Estonia, 2017-12-04 15:30 CET (GLOBE NEWSWIRE) --
Regarding the improvement of efficiency of the business operations and the structure of the Estonian companies of AS Merko Ehitus group:
- AS Merko Ehitus entered into preliminary sales agreement for sales of real estate related business to its 100% subsidiary AS Merko Ehitus Eesti. As a consequence of the sale the legal structure of the group’s Estonian companies will be aligned with the management structure as of 1 st January 2018.
- 100% owned group subsidiaries AS Merko Ehitus Eesti, OÜ Metsailu, OÜ Paekalda 2, OÜ Paekalda 3, OÜ Paekalda 7, OÜ Paekalda 9, Osaühing Unigate, Suur-Paekalda OÜ, Väike-Paekalda OÜ, Kivimäe 32 OÜ and AS Merko Tartu signed a merger agreement, according to what the acquiring company is AS Merko Ehitus Eesti. The merge date is 1 st January 2018 after which all merging companies transactions will be deemed to be made on the account of AS Merko Ehitus Eesti.
- AS Merko Ehitus Eesti disposed its 76% shareholding (share with nominal value of 2,607 euros) in OÜ Fort Ehitus to its co-owner OÜ Tamax Holding. OÜ Fort Ehitus is active in the field of water engineering. The parties do not disclose the transaction price. The transaction is not to be treated as transaction with related parties as to stock exchange regulation.
Transactions do not have any effect on AS Merko Ehitus group consolidated profit, assets or liabilities.
Merit Kullasepp Communication and Marketing Manager AS Merko Ehitus Phone: +372 650 1250 E-mail: merit.kullasepp@merko.ee
AS Merko Ehitus ( group.merko.ee ) group consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market, construction company Peritus Entreprenør AS in Norway and the real estate development business unit along with real estate holding companies. As at the end of 2016, the group employed 797 people and the company’s 2016 revenue was EUR 252 million.
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