Lemminkäinen completes the divestment of technical building services business and announces a change in its Executive Team
LEMMINKÄINEN CORPORATION STOCK EXCHANGE RELEASE 13 JUNE 2014 AT 4:30 P.M
LEMMINKÄINEN COMPLETES THE DIVESTMENT OF TECHNICAL BUILDING SERVICES BUSINESS AND ANNOUNCES A CHANGE IN ITS EXECUTIVE TEAM
Lemminkäinen has today concluded the sale of its technical building services business to Are Group. The share purchase agreement for all outstanding shares in Lemminkäinen Talotekniikka Oy between Lemminkäinen and Are was signed on 14 May 2014. The transaction has been approved by the Finnish Competition and Consumer Authority, as disclosed previously. The debt and cash free purchase price is EUR 60 million. From the sale, Lemminkäinen will book approximately EUR 25 million in capital gain in the second quarter of the year.
The ownership of Lemminkäinen's technical building services business was transferred to Are today. At the same time, Marcus Karsten, Executive Vice President, Technical Building Services, Finland, leaves his position as a member of Lemminkäinen Group's Executive Team.
Lemminkäinen has published stock exchange releases concerning the transaction on 14 May 2014 and 3 June 2014.
Ilkka Salonen, CFO
Tel. +358 2071 54524
NASDAQ OMX Helsinki
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 7,800 professionals. In 2013, our net sales were about EUR 2.2 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com