Lemminkäinen and YIT to combine
The Boards of Directors of Lemminkäinen Corporation and YIT Corporation announced 19 June 2017 to have agreed upon the combination of the two companies through a merger.
The combination will create a financially strong company with urban development as the engine for growth and profitability. The companies’ business areas will complement and balance each other and decrease sensitivity to economic cycles. The completion of the combination is subject to, inter alia, approval by the Extraordinary General Meetings of YIT and Lemminkäinen, which are currently expected to be held on September 12, 2017 as well as approvals from competition authorities.
More info in stock exchange release.