Lemminkäinen and YIT merger delay

By Sandy Guthrie12 December 2017

127951 yit lemminkainen

The Finnish competition and consumer authority has applied for an extension for the investigation into the merger of Lemminkäinen and YIT.

A decision was made earlier this year for the two Finnish contracting companies to combine through a statutory absorption merger.

Under the merger plan, Lemminkäinen will be merged into YIT so that all assets and liabilities of Lemminkäinen will be transferred without a liquidation procedure to YIT, and Lemminkäinen will be dissolved.

The extraordinary general meetings of Lemminkäinen and YIT approved the merger in September. The completion of the merger is still subject to, among other things, merger control approval from the Finnish Competition & Consumer Authority (FCCA).

With the FCCA’s investigation still pending, the authority has applied for an extension from the Finnish Market Court until 26 January, 2018.

If the Finnish Market Court grants the extension, the completion of the merger is likely to be delayed, so that completion will be possible on 1 February, 2018, at the earliest.

Lemminkäinen said that additional information will be published after the Finnish Market Court has given its decision on the matter.

Latest News
Redcar steelworks demolished in controlled explosion
The latest demolition works on the site required 1.6 t of explosives
Construction’s energy crisis
Over 70% of construction firms forced to make changes due to rising energy costs
Bauma 2022: Hinowa to display electric spider lift
Hinowa will also be exhibiting in a new stand this year