The regulatory approval process of Lemminkäinen's acquisition in Norway continues
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE March 31, 2011 at 8.00 a.m.
THE REGULATORY APPROVAL PROCESS OF LEMMINKÄINEN´S ACQUISITION IN NORWAY CONTINUES
Lemminkäinen has learned from the Norwegian Competition Authority that they will continue the regulatory process regarding Lemminkäinen's intention to acquire Mesta Industri AS. After a preliminary assessment, the Competition Authority has identified some areas where the acquisition may have negative impact on competition. Lemminkäinen is now examining the preliminary assessment.
"We know that the regulatory process in Norway is thorough, and now we will have the opportunity to comment on the preliminary assessment and discuss, if necessary, potential remedies. We will continue the good cooperation with the Competition Authority in Norway, and provide them with further information. We expect a final decision during the second quarter in 2011," says Henrik Eklund, Executive Vice President, Lemminkäinen's infrastructure construction business sector.
On 17 December 2010, Lemminkäinen disclosed its intention to acquire 100% of the shares of Mesta Industri AS, a Norwegian infrastructure construction company, from the state-owned Mesta Group. The 2010 net sales of Mesta Industri were approximately EUR 50 million, and the business has some 170 employees on average.
Nordic infrastructure construction is one of Lemminkäinen's strategic growth areas. Lemminkäinen has been in the paving and mineral aggregates business in Norway since 2001.
Henrik Eklund, Executive Vice President
Tel. +358 2071 53313
Robert Öhman, CFO
Tel. +358 2071 53515
NASDAQ OMX Helsinki Ltd
Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction and Technical Building Services. Net sales in 2010 were around EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs about 8,300 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.fi