Cramo and Ramirent dismiss merger reports

08 September 2009

A Finnish newspaper, Talouselämän, has reported that one of the country's major private investors, the Hartwall family, could attempt to merge Cramo and Ramirent, the two largest rental companies in the Nordic and eastern European market.

The paper reported that Hartwell - which owns around 21% of Cramo - would be interested in merging the two rental groups. Hartwall, which invests mainly through Hartwall Capital Oy, is reported to be interested in businesses active in eastern Europe.

IRN contacted Hartwall Capital for a response to the report but the company has not yet responded.

Cramo's communications director Anders Collman told IRN that he had not heard about any such proposal, and that in any case he would not comment if such a deal was being discussed.

Ramirent's director of corporate communications Franciska Janzon, said she had no knowledge of any such proposal and added; "In the Nordic countries Cramo and Ramirent together would have too large market shares from an anti trust law point of view."

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